Toll Brothers Inc. (TOL) Position Increased by Westpac Banking Corp
Westpac Banking Corp raised its stake in shares of Toll Brothers Inc. (NYSE:TOL) by 34.1% during the second quarter, Holdings Channel reports. The firm owned 8,253 shares of the company’s stock after buying an additional 2,098 shares during the period. Westpac Banking Corp’s holdings in Toll Brothers were worth $222,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. Acrospire Investment Management LLC raised its position in shares of Toll Brothers by 180.0% in the second quarter. Acrospire Investment Management LLC now owns 4,200 shares of the company’s stock valued at $113,000 after buying an additional 2,700 shares during the last quarter. Creative Planning raised its position in shares of Toll Brothers by 16.2% in the second quarter. Creative Planning now owns 5,915 shares of the company’s stock valued at $159,000 after buying an additional 823 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Toll Brothers by 14.6% in the second quarter. PNC Financial Services Group Inc. now owns 7,746 shares of the company’s stock valued at $208,000 after buying an additional 989 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Toll Brothers by 1.0% in the second quarter. Janney Montgomery Scott LLC now owns 8,055 shares of the company’s stock valued at $217,000 after buying an additional 76 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Toll Brothers during the first quarter valued at about $245,000. 77.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Toll Brothers Inc. (NYSE:TOL) opened at 29.25 on Friday. The stock’s 50 day moving average is $29.91 and its 200-day moving average is $28.55. Toll Brothers Inc. has a 52-week low of $23.75 and a 52-week high of $38.15. The firm has a market capitalization of $4.80 billion, a P/E ratio of 12.59 and a beta of 1.32.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Toll Brothers had a net margin of 8.73% and a return on equity of 9.98%. The business earned $1.27 billion during the quarter. During the same period in the prior year, the company earned $0.36 EPS. Toll Brothers’s quarterly revenue was up 23.5% on a year-over-year basis. On average, equities analysts forecast that Toll Brothers Inc. will post $2.50 earnings per share for the current fiscal year.
Several equities analysts have issued reports on TOL shares. Citigroup Inc. raised their price objective on Toll Brothers from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, August 24th. TheStreet raised Toll Brothers from a “hold” rating to a “buy” rating in a report on Monday, August 15th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $35.00 price objective (up previously from $32.00) on shares of Toll Brothers in a report on Thursday, August 25th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Toll Brothers in a report on Tuesday, June 28th. Finally, Buckingham Research raised Toll Brothers from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $35.00 in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.12.
In related news, President Richard T. Hartman sold 18,310 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $31.02, for a total transaction of $567,976.20. Following the completion of the sale, the president now owns 47,937 shares of the company’s stock, valued at approximately $1,487,005.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 10.51% of the company’s stock.
About Toll Brothers
Toll Brothers, Inc designs, builds, markets and arranges financing for detached and attached homes in luxury residential communities. The Company caters to move-up, empty nester, active-adult, age-qualified and second-home buyers in the United States (Traditional Home Building Product). The Company operates in two segments: traditional home building and urban infill.
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