Pictet Asset Management Ltd. Purchases 28,256 Shares of Toll Brothers Inc (NYSE:TOL)

Pictet Asset Management Ltd. grew its stake in shares of Toll Brothers Inc (NYSE:TOL) by 5.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 546,486 shares of the construction company’s stock after purchasing an additional 28,256 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Toll Brothers were worth $20,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in Toll Brothers by 185.7% in the 1st quarter. Janus Henderson Group PLC now owns 57,182 shares of the construction company’s stock valued at $2,070,000 after acquiring an additional 37,170 shares during the period. Sandy Spring Bank raised its holdings in Toll Brothers by 150.1% in the 1st quarter. Sandy Spring Bank now owns 1,078 shares of the construction company’s stock valued at $39,000 after acquiring an additional 647 shares during the period. CIBC Asset Management Inc raised its holdings in Toll Brothers by 6.7% in the 1st quarter. CIBC Asset Management Inc now owns 10,496 shares of the construction company’s stock valued at $380,000 after acquiring an additional 660 shares during the period. Sumitomo Mitsui Asset Management Company LTD bought a new position in Toll Brothers in the 1st quarter valued at about $813,000. Finally, New York State Teachers Retirement System raised its holdings in Toll Brothers by 2.0% in the 1st quarter. New York State Teachers Retirement System now owns 293,337 shares of the construction company’s stock valued at $10,619,000 after acquiring an additional 5,834 shares during the period. 81.55% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently commented on TOL. Wells Fargo & Co cut shares of Toll Brothers from an “outperform” rating to a “market perform” rating in a report on Thursday, August 22nd. SunTrust Banks began coverage on shares of Toll Brothers in a report on Monday, August 12th. They set a “hold” rating and a $37.00 target price on the stock. JMP Securities reaffirmed a “hold” rating on shares of Toll Brothers in a report on Wednesday, August 21st. Zacks Investment Research raised shares of Toll Brothers from a “sell” rating to a “hold” rating and set a $37.00 target price on the stock in a report on Monday, August 26th. Finally, Royal Bank of Canada set a $37.00 target price on shares of Toll Brothers and gave the stock a “hold” rating in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Toll Brothers presently has an average rating of “Hold” and a consensus price target of $36.37.

Shares of TOL traded down $0.12 during mid-day trading on Friday, hitting $38.34. 37,741 shares of the company’s stock were exchanged, compared to its average volume of 1,926,424. Toll Brothers Inc has a 52 week low of $28.68 and a 52 week high of $39.58. The stock’s 50-day simple moving average is $35.94 and its 200-day simple moving average is $36.66. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 8.12, a price-to-earnings-growth ratio of 1.09 and a beta of 0.94. The company has a quick ratio of 1.21, a current ratio of 7.43 and a debt-to-equity ratio of 0.75.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, August 20th. The construction company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.18. Toll Brothers had a net margin of 9.57% and a return on equity of 14.26%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the firm earned $1.26 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts forecast that Toll Brothers Inc will post 3.92 earnings per share for the current fiscal year.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and City Living. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.

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Institutional Ownership by Quarter for Toll Brothers (NYSE:TOL)

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