Toll Brothers Inc. (TOL) Shares Bought by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. raised its position in shares of Toll Brothers Inc. (NYSE:TOL) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,421,947 shares of the construction company’s stock after buying an additional 75,099 shares during the period. Pictet Asset Management Ltd.’s holdings in Toll Brothers were worth $52,484,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in TOL. US Bancorp DE increased its position in shares of Toll Brothers by 1.8% in the first quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock worth $101,000 after buying an additional 49 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Toll Brothers by 17.9% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the construction company’s stock worth $102,000 after buying an additional 500 shares in the last quarter. IFP Advisors Inc increased its position in shares of Toll Brothers by 369.1% in the second quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock worth $108,000 after buying an additional 2,152 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Toll Brothers during the first quarter worth about $114,000. Finally, Toronto Dominion Bank increased its position in shares of Toll Brothers by 10.1% in the first quarter. Toronto Dominion Bank now owns 3,704 shares of the construction company’s stock worth $134,000 after buying an additional 339 shares in the last quarter. Institutional investors own 80.44% of the company’s stock.
Toll Brothers Inc. (NYSE:TOL) opened at 39.84 on Wednesday. The company has a 50-day moving average price of $39.35 and a 200 day moving average price of $36.26. Toll Brothers Inc. has a 52-week low of $26.65 and a 52-week high of $41.07. The company has a market capitalization of $6.52 billion, a PE ratio of 16.43 and a beta of 1.52.
Toll Brothers (NYSE:TOL) last released its quarterly earnings results 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. Toll Brothers had a net margin of 7.67% and a return on equity of 9.71%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities research analysts anticipate that Toll Brothers Inc. will post $3.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.80%. The ex-dividend date was Wednesday, July 12th. Toll Brothers’s dividend payout ratio is currently 13.17%.
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TOL has been the topic of a number of research analyst reports. Zelman & Associates upgraded Toll Brothers from a “hold” rating to a “buy” rating in a report on Wednesday, May 17th. Mizuho initiated coverage on Toll Brothers in a report on Tuesday, May 16th. They set a “buy” rating and a $44.00 price target on the stock. Zacks Investment Research upgraded Toll Brothers from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Tuesday, April 25th. BidaskClub upgraded Toll Brothers from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Finally, Citigroup Inc. boosted their price target on Toll Brothers from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Toll Brothers presently has a consensus rating of “Buy” and an average price target of $39.67.
In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 4,155 shares of Toll Brothers stock in a transaction on Friday, July 7th. The shares were sold at an average price of $39.92, for a total value of $165,867.60. Following the transaction, the chief executive officer now directly owns 176,372 shares of the company’s stock, valued at $7,040,770.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert I. Toll sold 1,967 shares of Toll Brothers stock in a transaction on Friday, May 19th. The stock was sold at an average price of $38.00, for a total transaction of $74,746.00. Following the completion of the transaction, the insider now directly owns 7,420,317 shares in the company, valued at $281,972,046. The disclosure for this sale can be found here. Insiders sold 405,500 shares of company stock worth $15,531,221 over the last ninety days. Corporate 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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