Penserra Capital Management LLC Increases Stock Position in Toll Brothers Inc. $TOL

Penserra Capital Management LLC boosted its position in shares of Toll Brothers Inc. (NYSE:TOL) by 20.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,178 shares of the construction company’s stock after purchasing an additional 887 shares during the period. Penserra Capital Management LLC’s holdings in Toll Brothers were worth $590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Long Pond Capital LP purchased a new position in Toll Brothers in the 1st quarter valued at about $117,870,000. Victory Capital Management Inc. lifted its stake in shares of Toll Brothers by 149.5% in the first quarter. Victory Capital Management Inc. now owns 974,587 shares of the construction company’s stock worth $102,907,000 after acquiring an additional 583,940 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Toll Brothers by 21.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,159,289 shares of the construction company’s stock valued at $227,988,000 after purchasing an additional 375,372 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in Toll Brothers in the first quarter valued at about $28,720,000. Finally, Amundi grew its stake in Toll Brothers by 429.1% during the 1st quarter. Amundi now owns 316,888 shares of the construction company’s stock valued at $31,179,000 after purchasing an additional 256,996 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $160.00 target price (up from $130.00) on shares of Toll Brothers in a research note on Monday, August 25th. Wells Fargo & Company increased their price objective on shares of Toll Brothers from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods raised their price objective on shares of Toll Brothers from $143.00 to $145.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Argus upped their target price on shares of Toll Brothers from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Citigroup increased their price target on shares of Toll Brothers from $138.00 to $147.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Toll Brothers presently has an average rating of “Moderate Buy” and an average target price of $149.43.

Toll Brothers Stock Up 1.1%

TOL stock opened at $135.71 on Wednesday. The stock has a market cap of $13.08 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.60 and a beta of 1.37. The firm’s 50-day simple moving average is $137.43 and its 200 day simple moving average is $123.70. 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 quick ratio of 0.51, a current ratio of 4.38 and a debt-to-equity ratio of 0.36.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 19th. The construction company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.59 by $0.14. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. Toll Brothers’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts predict that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

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

Insider Buying and Selling at Toll Brothers

In other Toll Brothers news, COO Robert Parahus sold 9,831 shares of the business’s stock in a transaction 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 transaction, the chief operating officer owned 19,692 shares in the company, valued at approximately $2,576,501.28. The trade was a 33.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $138.26, for a total value of $3,456,500.00. Following the completion of the transaction, the chief executive officer directly owned 286,117 shares of the company’s stock, valued at approximately $39,558,536.42. The trade was a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,643 shares of company stock valued at $5,305,630 in the last quarter. Corporate insiders own 1.54% of the company’s stock.

About Toll Brothers

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.