Atalanta Sosnoff Capital LLC Lowers Position in Toll Brothers Inc. (TOL)
Atalanta Sosnoff Capital LLC lowered its stake in shares of Toll Brothers Inc. (NYSE:TOL) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,315 shares of the construction company’s stock after selling 10 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Toll Brothers were worth $1,751,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in TOL. US Bancorp DE raised its position in Toll Brothers by 1.8% in the first quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock valued at $101,000 after buying an additional 49 shares during the last quarter. Charter Trust Co. raised its position in Toll Brothers by 1.4% in the first quarter. Charter Trust Co. now owns 7,324 shares of the construction company’s stock valued at $264,000 after buying an additional 100 shares during the last quarter. Cutter & CO Brokerage Inc. raised its position in Toll Brothers by 1.7% in the first quarter. Cutter & CO Brokerage Inc. now owns 7,384 shares of the construction company’s stock valued at $267,000 after buying an additional 120 shares during the last quarter. Mason Street Advisors LLC raised its position in Toll Brothers by 0.3% in the first quarter. Mason Street Advisors LLC now owns 69,843 shares of the construction company’s stock valued at $2,522,000 after buying an additional 192 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Toll Brothers by 10.1% in the first quarter. Toronto Dominion Bank now owns 3,704 shares of the construction company’s stock valued at $134,000 after buying an additional 339 shares during the last quarter. 80.22% of the stock is owned by institutional investors.
Shares of Toll Brothers Inc. (NYSE:TOL) traded down 0.96% during trading on Thursday, reaching $39.11. 402,751 shares of the company’s stock were exchanged. The firm has a market capitalization of $6.40 billion, a P/E ratio of 16.13 and a beta of 1.52. Toll Brothers Inc. has a 52-week low of $26.65 and a 52-week high of $41.07. The company has a 50 day moving average of $38.97 and a 200 day moving average of $35.74.
Toll Brothers (NYSE:TOL) last posted its quarterly earnings data on Tuesday, May 23rd. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.10. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.26 billion. Toll Brothers had a net margin of 7.67% and a return on equity of 9.71%. Toll Brothers’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. Equities analysts anticipate that Toll Brothers Inc. will post $3.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Wednesday, July 12th. Toll Brothers’s dividend payout ratio (DPR) is presently 13.17%.
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TOL has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, April 25th. Zelman & Associates upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating in a report on Wednesday, May 17th. Royal Bank Of Canada restated a “hold” rating and set a $37.00 target price on shares of Toll Brothers in a report on Monday, March 27th. Buckingham Research lowered shares of Toll Brothers from a “buy” rating to a “neutral” rating in a report on Wednesday, May 24th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $37.00 target price on shares of Toll Brothers in a report on Monday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Toll Brothers has a consensus rating of “Buy” and an average price target of $39.33.
In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 10,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $38.50, for a total value of $385,000.00. Following the completion of the sale, the chief executive officer now directly owns 186,372 shares of the company’s stock, valued at approximately $7,175,322. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert I. Toll sold 273,033 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $38.00, for a total transaction of $10,375,254.00. Following the completion of the sale, the insider now directly owns 7,420,317 shares of the company’s stock, valued at $281,972,046. The disclosure for this sale can be found here. Over the last three months, insiders sold 405,500 shares of company stock valued at $15,531,221. Insiders own 8.78% of the company’s stock.
About Toll Brothers
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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