Bank of Nova Scotia Has $728,000 Stake in Toll Brothers Inc. $TOL

Bank of Nova Scotia reduced its stake in Toll Brothers Inc. (NYSE:TOL) by 96.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,332 shares of the construction company’s stock after selling 161,815 shares during the quarter. Bank of Nova Scotia’s holdings in Toll Brothers were worth $728,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Toll Brothers by 25.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 108,379 shares of the construction company’s stock valued at $14,694,000 after purchasing an additional 21,907 shares in the last quarter. Annex Advisory Services LLC grew its stake in Toll Brothers by 30.8% during the fourth quarter. Annex Advisory Services LLC now owns 44,251 shares of the construction company’s stock worth $5,984,000 after buying an additional 10,420 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Toll Brothers by 52.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 45,149 shares of the construction company’s stock worth $6,105,000 after buying an additional 15,526 shares in the last quarter. Summit Place Financial Advisors LLC increased its holdings in Toll Brothers by 89.1% in the 4th quarter. Summit Place Financial Advisors LLC now owns 12,890 shares of the construction company’s stock valued at $1,743,000 after buying an additional 6,075 shares during the period. Finally, Investment House LLC increased its holdings in Toll Brothers by 103.2% in the 4th quarter. Investment House LLC now owns 33,849 shares of the construction company’s stock valued at $4,577,000 after buying an additional 17,193 shares during the period. Institutional investors own 91.76% of the company’s stock.

Toll Brothers Stock Down 3.1%

Shares of NYSE TOL opened at $150.13 on Thursday. The company has a market cap of $14.03 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.28 and a beta of 1.34. The company has a current ratio of 4.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. Toll Brothers Inc. has a 12 month low of $117.50 and a 12 month high of $168.36. The stock has a 50-day moving average price of $148.52 and a two-hundred day moving average price of $146.05.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, May 19th. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.14. Toll Brothers had a net margin of 11.66% and a return on equity of 15.47%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the company posted $3.50 EPS. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, analysts forecast that Toll Brothers Inc. will post 12.69 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.04 annualized dividend and a yield of 0.7%. Toll Brothers’s dividend payout ratio is presently 7.87%.

Insider Activity at Toll Brothers

In related news, COO Robert Parahus sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $149.66, for a total value of $1,122,450.00. Following the completion of the transaction, the chief operating officer owned 23,457 shares of the company’s stock, valued at $3,510,574.62. This represents a 24.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $156.58, for a total transaction of $12,206,507.06. Following the completion of the sale, the chairman owned 321,256 shares in the company, valued at $50,302,264.48. This represents a 19.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TOL has been the subject of a number of recent analyst reports. Oppenheimer downgraded shares of Toll Brothers from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 9th. UBS Group raised shares of Toll Brothers from a “buy” rating to a “buy” rating in a research note on Tuesday, June 9th. Barclays lifted their price objective on shares of Toll Brothers from $115.00 to $122.00 and gave the company an “underweight” rating in a research note on Tuesday, July 14th. Benchmark started coverage on Toll Brothers in a research note on Tuesday, June 9th. They set a “buy” rating for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $158.00 target price on shares of Toll Brothers in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.88.

About Toll Brothers

Toll Brothers, Inc is a publicly traded homebuilding company that focuses on designing and constructing luxury residential properties. The company’s core business encompasses a broad range of housing products, including custom single-family homes, upscale condominium communities and rental apartment ventures. Toll Brothers emphasizes high-end finishes and architectural craftsmanship, positioning itself in the premium segment of the U.S. housing market.

In addition to traditional homebuilding, Toll Brothers operates specialized divisions to address evolving consumer preferences.