Tudor Investment Corp ET AL Invests $246,000 in Toll Brothers Inc. (TOL)
Tudor Investment Corp ET AL purchased a new stake in Toll Brothers Inc. (NYSE:TOL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,800 shares of the construction company’s stock, valued at approximately $246,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Toll Brothers by 7,882.3% in the first quarter. BlackRock Inc. now owns 16,520,268 shares of the construction company’s stock valued at $596,546,000 after buying an additional 16,313,307 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Toll Brothers by 7.2% in the first quarter. Vanguard Group Inc. now owns 12,216,855 shares of the construction company’s stock valued at $441,150,000 after buying an additional 815,737 shares in the last quarter. FMR LLC raised its stake in shares of Toll Brothers by 34.9% in the first quarter. FMR LLC now owns 7,975,533 shares of the construction company’s stock valued at $287,997,000 after buying an additional 2,065,250 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Toll Brothers by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,261,963 shares of the construction company’s stock valued at $190,012,000 after buying an additional 396,190 shares in the last quarter. Finally, Greenhaven Associates Inc. raised its stake in shares of Toll Brothers by 3.7% in the first quarter. Greenhaven Associates Inc. now owns 4,043,304 shares of the construction company’s stock valued at $146,004,000 after buying an additional 142,603 shares in the last quarter. Institutional investors and hedge funds own 80.19% of the company’s stock.
Toll Brothers Inc. (NYSE:TOL) opened at 39.29 on Thursday. Toll Brothers Inc. has a 1-year low of $26.65 and a 1-year high of $41.07. The firm has a 50-day moving average of $39.04 and a 200-day moving average of $35.77. The stock has a market cap of $6.43 billion, a PE ratio of 16.20 and a beta of 1.52.
Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, May 23rd. The construction company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.10. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates 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 for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Analysts expect that Toll Brothers Inc. will post $3.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be given a $0.08 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. Toll Brothers’s dividend payout ratio is currently 13.17%.
Several brokerages have commented on TOL. Bank of America Corporation reaffirmed a “buy” rating and issued a $43.00 price objective (up previously from $40.00) on shares of Toll Brothers in a research report on Wednesday, May 24th. BidaskClub lowered shares of Toll Brothers from a “strong-buy” rating to a “buy” rating in a research report on Monday. Mizuho began coverage on shares of Toll Brothers in a research report on Tuesday, May 16th. They issued a “buy” rating and a $44.00 price objective on the stock. Buckingham Research lowered shares of Toll Brothers from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 24th. They noted that the move was a valuation call. Finally, Citigroup Inc. lifted their price objective on shares of Toll Brothers from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Toll Brothers has an average rating of “Buy” and an average target price of $39.33.
In related news, insider Robert I. Toll sold 1,967 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $38.00, for a total value of $74,746.00. Following the sale, the insider now owns 7,420,317 shares in the company, valued at $281,972,046. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Martin P. Connor sold 2,000 shares of the company’s stock in a transaction that occurred on 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 owns 34,836 shares in the company, valued at approximately $1,409,116.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 405,500 shares of company stock worth $15,531,221. 8.78% of the stock is owned by insiders.
Toll Brothers Company Profile
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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