Toll Brothers Inc. (TOL) Shares Sold by Benson Investment Management Company Inc.
Benson Investment Management Company Inc. decreased its stake in shares of Toll Brothers Inc. (NYSE:TOL) by 13.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 62,080 shares of the construction company’s stock after selling 9,300 shares during the period. Toll Brothers accounts for about 2.2% of Benson Investment Management Company Inc.’s holdings, making the stock its 13th largest position. Benson Investment Management Company Inc.’s holdings in Toll Brothers were worth $2,453,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in TOL. M Holdings Securities Inc. boosted its position in Toll Brothers by 5.2% in the fourth quarter. M Holdings Securities Inc. now owns 8,843 shares of the construction company’s stock valued at $274,000 after buying an additional 438 shares during the last quarter. Emerald Advisers Inc. PA boosted its position in Toll Brothers by 0.8% in the first quarter. Emerald Advisers Inc. PA now owns 266,598 shares of the construction company’s stock valued at $9,627,000 after buying an additional 2,044 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new position in Toll Brothers during the first quarter valued at approximately $300,000. Korea Investment CORP bought a new position in Toll Brothers during the first quarter valued at approximately $5,839,000. Finally, Oregon Public Employees Retirement Fund boosted its position in Toll Brothers by 19.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 86,257 shares of the construction company’s stock valued at $3,115,000 after buying an additional 13,900 shares during the last quarter. 80.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Toll Brothers Inc. (TOL) traded up 0.99% on Tuesday, hitting $39.60. 474,735 shares of the company’s stock traded hands. Toll Brothers Inc. has a 1-year low of $26.65 and a 1-year high of $41.07. The firm’s 50-day moving average price is $39.04 and its 200 day moving average price is $35.77. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 16.33 and a beta of 1.52.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, May 23rd. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Toll Brothers had a return on equity of 9.71% and a net margin of 7.67%. Toll Brothers’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. On average, equities research analysts expect that Toll Brothers Inc. will post $3.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.82%. Toll Brothers’s dividend payout ratio (DPR) is presently 13.17%.
TOL has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $37.00 target price on shares of Toll Brothers in a research note on Monday, April 10th. Credit Suisse Group initiated coverage on shares of Toll Brothers in a research note on Thursday, June 22nd. They set a “neutral” rating and a $39.00 target price on the stock. Royal Bank Of Canada raised shares of Toll Brothers from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $37.00 to $43.00 in a research note on Tuesday, April 11th. BidaskClub upgraded shares of Toll Brothers from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $39.33.
In other news, CEO Douglas C. Jr. Yearley sold 10,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO Martin P. Connor sold 2,000 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $40.45, for a total value of $80,900.00. Following the completion of the sale, the chief financial officer now directly owns 34,836 shares of the company’s stock, valued at $1,409,116.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 405,500 shares of company stock valued at $15,531,221. 8.78% of the stock is currently owned by company insiders.
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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