Wealth Enhancement Advisory Services LLC lifted its position in shares of Toll Brothers, Inc. (NYSE:TOL) by 0.6% in the 1st quarter, Holdings Channel reports. The fund owned 83,522 shares of the construction company’s stock after buying an additional 492 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Toll Brothers were worth $5,011,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Toll Brothers by 23.8% during the first quarter. BlackRock Inc. now owns 15,448,759 shares of the construction company’s stock valued at $876,407,000 after purchasing an additional 2,969,973 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Toll Brothers by 2.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,882,225 shares of the construction company’s stock valued at $106,779,000 after buying an additional 37,246 shares in the last quarter. Norges Bank bought a new position in Toll Brothers in the 4th quarter worth approximately $53,968,000. Clearbridge Investments LLC grew its stake in Toll Brothers by 9.8% in the 4th quarter. Clearbridge Investments LLC now owns 1,186,715 shares of the construction company’s stock valued at $51,587,000 after buying an additional 105,723 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Toll Brothers by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 606,002 shares of the construction company’s stock valued at $26,343,000 after acquiring an additional 10,435 shares during the period. 88.66% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on TOL. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Toll Brothers from $66.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, May 27th. Barclays upped their price target on Toll Brothers from $53.00 to $62.00 and gave the company an “underweight” rating in a research report on Thursday, May 27th. Citigroup increased their price target on shares of Toll Brothers from $66.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, May 27th. Argus boosted their price objective on shares of Toll Brothers from $56.00 to $62.00 in a research note on Tuesday, March 2nd. Finally, Wells Fargo & Company assumed coverage on shares of Toll Brothers in a research note on Wednesday, April 21st. They issued an “overweight” rating and a $75.00 target price on the stock. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $60.47.
Toll Brothers (NYSE:TOL) last released its earnings results on Monday, May 24th. The construction company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. Toll Brothers had a return on equity of 10.18% and a net margin of 6.65%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the company posted $0.59 EPS. Toll Brothers’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities analysts forecast that Toll Brothers, Inc. will post 5.29 earnings per share for the current year.
In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 14th. The shares were sold at an average price of $60.31, for a total value of $603,100.00. Following the transaction, the chief executive officer now owns 247,425 shares in the company, valued at $14,922,201.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael J. Grubb sold 600 shares of the company’s stock in a transaction dated Friday, April 9th. The shares were sold at an average price of $60.16, for a total transaction of $36,096.00. Following the transaction, the chief accounting officer now directly owns 1,672 shares of the company’s stock, valued at $100,587.52. The disclosure for this sale can be found here. Insiders sold 51,650 shares of company stock valued at $3,114,502 in the last quarter. Corporate insiders own 10.77% of the company’s stock.
Toll Brothers Profile
Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and Urban Infill. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.
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