Toll Brothers Inc. $TOL Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in Toll Brothers Inc. (NYSE:TOL) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,540 shares of the construction company’s stock after selling 1,354 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Toll Brothers were worth $2,458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TOL. SBI Securities Co. Ltd. raised its holdings in Toll Brothers by 201.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 875 shares of the construction company’s stock valued at $100,000 after buying an additional 585 shares during the period. Vise Technologies Inc. acquired a new position in Toll Brothers during the 2nd quarter worth $384,000. Allworth Financial LP increased its stake in shares of Toll Brothers by 1,242.2% during the second quarter. Allworth Financial LP now owns 1,463 shares of the construction company’s stock worth $167,000 after buying an additional 1,354 shares during the period. Fidelis Capital Partners LLC increased its position in shares of Toll Brothers by 4.5% in the 2nd quarter. Fidelis Capital Partners LLC now owns 2,502 shares of the construction company’s stock valued at $315,000 after purchasing an additional 107 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Toll Brothers by 3.6% in the second quarter. ProShare Advisors LLC now owns 4,408 shares of the construction company’s stock valued at $503,000 after buying an additional 155 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

Insiders Place Their Bets

In other news, COO Robert Parahus sold 9,831 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $130.84, for a total transaction of $1,286,288.04. Following the completion of the transaction, the chief operating officer directly owned 19,692 shares in the company, valued at approximately $2,576,501.28. This represents a 33.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $138.26, for a total transaction of $3,456,500.00. Following the transaction, the chief executive officer directly owned 286,117 shares of the company’s stock, valued at approximately $39,558,536.42. This represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,643 shares of company stock worth $5,305,630 in the last quarter. 1.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Toll Brothers from $143.00 to $145.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Toll Brothers in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price target on shares of Toll Brothers from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Wedbush reiterated an “outperform” rating and issued a $165.00 price objective on shares of Toll Brothers in a research report on Thursday, September 18th. Finally, Citigroup boosted their price target on Toll Brothers from $138.00 to $147.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Toll Brothers currently has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Toll Brothers Trading Down 0.4%

Shares of TOL opened at $126.23 on Wednesday. The stock has a fifty day moving average of $135.91 and a two-hundred day moving average of $124.70. Toll Brothers Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $169.52. The company has a market capitalization of $12.17 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.59 by $0.14. Toll Brothers had a return on equity of 17.42% and a net margin of 12.64%.The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the company earned $3.60 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts forecast that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Toll Brothers’s dividend payout ratio (DPR) is currently 7.35%.

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. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.