Verition Fund Management LLC Has $332,000 Position in Toll Brothers Inc. (TOL)
Verition Fund Management LLC lessened its position in shares of Toll Brothers Inc. (NYSE:TOL) by 86.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,407 shares of the construction company’s stock after selling 54,685 shares during the quarter. Verition Fund Management LLC’s holdings in Toll Brothers were worth $332,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC acquired a new stake in Toll Brothers during the second quarter valued at $913,000. Ameritas Investment Partners Inc. grew its position in Toll Brothers by 1.6% during the second quarter. Ameritas Investment Partners Inc. now owns 44,280 shares of the construction company’s stock valued at $1,750,000 after buying an additional 698 shares during the period. Nomura Holdings Inc. acquired a new stake in Toll Brothers during the second quarter valued at $569,000. Raymond James Financial Services Advisors Inc. grew its position in Toll Brothers by 2.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 182,784 shares of the construction company’s stock valued at $7,222,000 after buying an additional 3,667 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Toll Brothers by 381.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,241 shares of the construction company’s stock valued at $168,000 after buying an additional 3,361 shares during the period. Institutional investors own 80.69% of the company’s stock.
TOL has been the topic of several analyst reports. Mizuho restated a “buy” rating on shares of Toll Brothers in a research report on Tuesday, July 11th. BidaskClub lowered shares of Toll Brothers from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Bank of America Corporation lifted their target price on shares of Toll Brothers from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, August 8th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 target price on shares of Toll Brothers in a research report on Monday, September 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.58.
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Toll Brothers Inc. (NYSE TOL) opened at 44.21 on Monday. Toll Brothers Inc. has a 1-year low of $26.65 and a 1-year high of $44.33. The stock has a 50 day moving average of $41.09 and a 200 day moving average of $38.82. The stock has a market capitalization of $7.00 billion, a P/E ratio of 16.48 and a beta of 1.50.
Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Tuesday, August 22nd. The construction company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.19. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Toll Brothers had a net margin of 8.12% and a return on equity of 10.44%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. On average, analysts expect that Toll Brothers Inc. will post $3.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be paid a $0.08 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.72%. Toll Brothers’s payout ratio is 11.90%.
In related news, CFO Martin P. Connor sold 2,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $41.45, for a total value of $82,900.00. Following the sale, the chief financial officer now directly owns 34,836 shares of the company’s stock, valued at approximately $1,443,952.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul E. Shapiro sold 16,250 shares of the stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $42.58, for a total transaction of $691,925.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,650 shares of company stock worth $1,574,538. 8.78% of the stock is owned by corporate 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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