Westpac Banking Corp lessened its holdings in shares of Toll Brothers Inc. (NYSE:TOL) by 23.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,253 shares of the construction company’s stock after selling 2,492 shares during the quarter. Westpac Banking Corp’s holdings in Toll Brothers were worth $326,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE raised 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 valued at $101,000 after purchasing an additional 49 shares during the period. NewSquare Capital LLC bought a new position in shares of Toll Brothers in the second quarter valued at approximately $101,000. Advisors Asset Management Inc. raised its position in shares of Toll Brothers by 61.6% in the second quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock valued at $105,000 after purchasing an additional 1,017 shares during the period. IFP Advisors Inc raised 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 valued at $108,000 after purchasing an additional 2,152 shares during the period. Finally, Toronto Dominion Bank raised 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 valued at $134,000 after purchasing an additional 339 shares during the period. 80.70% of the stock is currently owned by hedge funds and other institutional investors.
TOL has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 price target on shares of Toll Brothers in a research report on Monday, May 22nd. BidaskClub lowered shares of Toll Brothers from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Mizuho reissued a “buy” rating on shares of Toll Brothers in a research report on Tuesday, July 11th. Bank of America Corporation lifted their price target 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. Finally, Citigroup Inc. lifted their price target on shares of Toll Brothers from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Toll Brothers presently has an average rating of “Hold” and a consensus target price of $40.67.
Shares of Toll Brothers Inc. (NYSE TOL) opened at 39.41 on Friday. The stock has a 50 day moving average of $38.87 and a 200 day moving average of $37.76. The firm has a market cap of $6.24 billion, a P/E ratio of 14.69 and a beta of 1.49. Toll Brothers Inc. has a 52 week low of $26.65 and a 52 week high of $41.07.
Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.19. Toll Brothers had a return on equity of 10.44% and a net margin of 8.12%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities analysts forecast that Toll Brothers Inc. will post $3.20 earnings per share for the current year.
In related news, Director Carl B. Marbach sold 12,900 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $39.97, for a total value of $515,613.00. Following the sale, the director now owns 114,149 shares in the company, valued at approximately $4,562,535.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Braemer sold 7,500 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $37.88, for a total value of $284,100.00. Following the completion of the sale, the director now owns 110,373 shares in the company, valued at approximately $4,180,929.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,400 shares of company stock worth $1,357,884. 8.78% of the stock is owned by company insiders.
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Toll Brothers 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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