Summit Investment Advisors Inc. Sells 570 Shares of Toll Brothers Inc. $TOL

Summit Investment Advisors Inc. trimmed its position in Toll Brothers Inc. (NYSE:TOL) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,654 shares of the construction company’s stock after selling 570 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Toll Brothers were worth $2,075,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group boosted its holdings in shares of Toll Brothers by 52.8% in the 1st quarter. Brooklyn Investment Group now owns 272 shares of the construction company’s stock valued at $29,000 after purchasing an additional 94 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Toll Brothers by 152.6% during the 1st quarter. Larson Financial Group LLC now owns 293 shares of the construction company’s stock worth $31,000 after buying an additional 177 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Toll Brothers by 128.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 324 shares of the construction company’s stock valued at $37,000 after buying an additional 182 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Toll Brothers by 218.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company’s stock valued at $38,000 after acquiring an additional 249 shares during the last quarter. Finally, Operose Advisors LLC acquired a new position in Toll Brothers during the first quarter worth about $42,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TOL has been the topic of a number of research analyst reports. Seaport Res Ptn upgraded shares of Toll Brothers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 23rd. Wedbush restated an “outperform” rating and issued a $165.00 target price on shares of Toll Brothers in a research report on Thursday, September 18th. Citigroup boosted their target price on shares of Toll Brothers from $138.00 to $147.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada increased their price target on Toll Brothers from $133.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Finally, Bank of America cut their price objective on Toll Brothers from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Insider Activity

In related news, COO Robert Parahus sold 9,831 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $130.84, for a total transaction of $1,286,288.04. Following the completion of the sale, the chief operating officer owned 19,692 shares of the company’s stock, valued at $2,576,501.28. This trade represents a 33.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul E. Shapiro sold 3,812 shares of Toll Brothers stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $147.65, for a total value of $562,841.80. Following the completion of the sale, the director owned 118,753 shares of the company’s stock, valued at approximately $17,533,880.45. The trade was a 3.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 38,643 shares of company stock valued at $5,305,630 in the last ninety days. 1.54% of the stock is owned by company insiders.

Toll Brothers Stock Performance

NYSE:TOL opened at $133.43 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38. Toll Brothers Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $169.52. The company has a 50 day simple moving average of $137.58 and a two-hundred day simple moving average of $123.21. The company has a market capitalization of $12.86 billion, a PE ratio of 9.80, a P/E/G ratio of 1.60 and a beta of 1.37.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.59 by $0.14. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the firm posted $3.60 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts anticipate that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. Toll Brothers’s dividend payout ratio (DPR) is 7.35%.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.