Cresset Asset Management LLC Sells 5,866 Shares of Toll Brothers Inc. $TOL

Cresset Asset Management LLC trimmed its holdings in shares of Toll Brothers Inc. (NYSE:TOL) by 31.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,540 shares of the construction company’s stock after selling 5,866 shares during the period. Cresset Asset Management LLC’s holdings in Toll Brothers were worth $1,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC grew its position in Toll Brothers by 1.7% during the fourth quarter. NewEdge Advisors LLC now owns 6,051 shares of the construction company’s stock valued at $762,000 after buying an additional 100 shares during the period. KLP Kapitalforvaltning AS grew its position in shares of Toll Brothers by 0.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 24,800 shares of the construction company’s stock valued at $2,619,000 after acquiring an additional 100 shares during the period. J.Safra Asset Management Corp grew its position in shares of Toll Brothers by 6.7% during the 1st quarter. J.Safra Asset Management Corp now owns 1,706 shares of the construction company’s stock valued at $180,000 after acquiring an additional 107 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Toll Brothers by 5.5% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,094 shares of the construction company’s stock valued at $221,000 after acquiring an additional 109 shares during the period. Finally, Sound Income Strategies LLC grew its position in shares of Toll Brothers by 84.2% during the 1st quarter. Sound Income Strategies LLC now owns 245 shares of the construction company’s stock valued at $26,000 after acquiring an additional 112 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

Toll Brothers Stock Down 0.6%

Toll Brothers stock opened at $131.3210 on Thursday. Toll Brothers Inc. has a 1-year low of $86.67 and a 1-year high of $169.52. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 1.37 and a beta of 1.33. The company has a current ratio of 4.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $119.62 and a 200 day simple moving average of $111.43.

Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.59 by $0.14. Toll Brothers had a net margin of 12.64% and a return on equity of 17.58%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the business earned $3.60 EPS. Toll Brothers’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, July 11th. Toll Brothers’s payout ratio is currently 7.42%.

Insider Activity at Toll Brothers

In other Toll Brothers news, Director Christine Garvey sold 770 shares of the firm’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $119.82, for a total value of $92,261.40. Following the completion of the transaction, the director directly owned 11,590 shares of the company’s stock, valued at $1,388,713.80. This trade represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen F. East sold 2,500 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $115.33, for a total transaction of $288,325.00. Following the completion of the transaction, the director directly owned 12,787 shares of the company’s stock, valued at approximately $1,474,724.71. The trade was a 16.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,770 shares of company stock worth $440,586. Corporate insiders own 1.54% of the company’s stock.

Wall Street Analysts Forecast Growth

TOL has been the subject of a number of research reports. Raymond James Financial reissued a “strong-buy” rating and set a $130.00 target price (down from $145.00) on shares of Toll Brothers in a research report on Friday, May 23rd. Seaport Res Ptn raised shares of Toll Brothers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods reduced their target price on shares of Toll Brothers from $132.00 to $120.00 and set a “market perform” rating for the company in a research report on Tuesday, May 20th. Barclays reissued an “underweight” rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company increased their target price on shares of Toll Brothers from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.62.

Toll Brothers Company 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.