Retirement Systems of Alabama Has $5,296,000 Stake in Toll Brothers Inc. (TOL)
Retirement Systems of Alabama lowered its stake in shares of Toll Brothers Inc. (NYSE:TOL) by 55.6% during the second quarter, Holdings Channel reports. The institutional investor owned 196,816 shares of the company’s stock after selling 246,907 shares during the period. Retirement Systems of Alabama’s holdings in Toll Brothers were worth $5,296,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Investment House LLC acquired a new stake in shares of Toll Brothers during the second quarter valued at about $736,000. Mount Vernon Associates Inc. MD increased its stake in Toll Brothers by 1.6% in the second quarter. Mount Vernon Associates Inc. MD now owns 33,320 shares of the company’s stock worth $897,000 after buying an additional 520 shares in the last quarter. Bank of Montreal Can purchased a new stake in Toll Brothers during the second quarter worth $11,583,000. Oakbrook Investments LLC increased its stake in Toll Brothers by 16.3% in the second quarter. Oakbrook Investments LLC now owns 15,350 shares of the company’s stock worth $413,000 after buying an additional 2,150 shares in the last quarter. Finally, Rothschild Investment Corp IL increased its stake in Toll Brothers by 1.6% in the second quarter. Rothschild Investment Corp IL now owns 248,475 shares of the company’s stock worth $6,686,000 after buying an additional 3,900 shares in the last quarter. 77.59% of the stock is owned by institutional investors and hedge funds.
Toll Brothers Inc. (NYSE:TOL) traded down 1.38% during trading on Thursday, hitting $28.62. The company had a trading volume of 1,996,648 shares. Toll Brothers Inc. has a 1-year low of $23.75 and a 1-year high of $38.15. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 12.32 and a beta of 1.32. The company’s 50 day moving average price is $29.84 and its 200-day moving average price is $28.56.
Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Tuesday, August 23rd. The company reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The business had revenue of $1.27 billion for the quarter. Toll Brothers had a return on equity of 9.98% and a net margin of 8.73%. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, analysts expect that Toll Brothers Inc. will post $2.50 EPS for the current year.
TOL has been the subject of a number of research reports. Citigroup Inc. lifted their target price 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 reissued a “sector perform” rating and set a $35.00 target price (up previously from $32.00) on shares of Toll Brothers in a report on Thursday, August 25th. Credit Suisse Group AG reissued 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 lifted their target price 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 given a strong buy rating to the stock. The company presently 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 stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $31.02, for a total transaction of $567,976.20. Following 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.51% of the company’s stock.
Toll Brothers Company Profile
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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