Redmond Asset Management LLC cut its stake in shares of Toll Brothers Inc (NYSE:TOL) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,514 shares of the construction company’s stock after selling 1,695 shares during the period. Redmond Asset Management LLC’s holdings in Toll Brothers were worth $1,484,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in TOL. FNY Investment Advisers LLC purchased a new stake in shares of Toll Brothers during the 1st quarter valued at $25,000. Quadrant Capital Group LLC grew its stake in shares of Toll Brothers by 309.0% during the 1st quarter. Quadrant Capital Group LLC now owns 953 shares of the construction company’s stock valued at $32,000 after buying an additional 720 shares during the period. Sandy Spring Bank grew its stake in shares of Toll Brothers by 150.1% during the 1st quarter. Sandy Spring Bank now owns 1,078 shares of the construction company’s stock valued at $39,000 after buying an additional 647 shares during the period. CWM LLC purchased a new stake in shares of Toll Brothers during the 1st quarter valued at $53,000. Finally, Penserra Capital Management LLC purchased a new stake in Toll Brothers during the 1st quarter worth $57,000. 81.49% of the stock is owned by institutional investors.
In other Toll Brothers news, Director Carl B. Marbach sold 3,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $35.14, for a total value of $105,420.00. Following the transaction, the director now owns 85,463 shares in the company, valued at approximately $3,003,169.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward G. Boehne sold 17,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $37.01, for a total transaction of $629,170.00. Following the completion of the transaction, the director now owns 64,304 shares in the company, valued at approximately $2,379,891.04. The disclosure for this sale can be found here. Insiders sold a total of 20,200 shares of company stock worth $742,192 in the last quarter. 9.69% of the stock is currently owned by company insiders.
TOL stock traded up $0.19 during trading on Thursday, reaching $35.22. The stock had a trading volume of 30,233 shares, compared to its average volume of 1,539,769. Toll Brothers Inc has a 1-year low of $28.68 and a 1-year high of $39.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 7.68 and a quick ratio of 1.30. The firm has a market capitalization of $5.10 billion, a P/E ratio of 7.43, a P/E/G ratio of 1.06 and a beta of 0.98. The company has a fifty day moving average of $36.22.
Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Tuesday, May 21st. The construction company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.10. Toll Brothers had a net margin of 10.01% and a return on equity of 15.57%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business posted $0.72 EPS. On average, research analysts expect that Toll Brothers Inc will post 3.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.44 dividend on an annualized basis and a yield of 1.25%. Toll Brothers’s dividend payout ratio is currently 9.34%.
TOL has been the subject of a number of research reports. Raymond James cut shares of Toll Brothers from an “outperform” rating to a “market perform” rating and set a $35.39 price target for the company. in a research report on Thursday, May 30th. Zacks Investment Research cut shares of Toll Brothers from a “hold” rating to a “sell” rating and set a $37.00 price target for the company. in a research report on Wednesday, July 24th. Royal Bank of Canada set a $37.00 price target on shares of Toll Brothers and gave the stock a “hold” rating in a research report on Thursday, May 23rd. SunTrust Banks initiated coverage on shares of Toll Brothers in a research report on Monday. They set a “hold” rating and a $37.00 price target for the company. Finally, ValuEngine cut shares of Toll Brothers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $35.49.
About Toll Brothers
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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