United Services Automobile Association reduced its holdings in shares of Toll Brothers Inc (NYSE:TOL) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,056 shares of the construction company’s stock after selling 336 shares during the period. United Services Automobile Association’s holdings in Toll Brothers were worth $771,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of TOL. Marshall Wace LLP acquired a new stake in Toll Brothers during the 2nd quarter worth about $19,292,000. Janus Henderson Group PLC grew its holdings in Toll Brothers by 794.8% during the 2nd quarter. Janus Henderson Group PLC now owns 511,688 shares of the construction company’s stock worth $18,754,000 after acquiring an additional 454,506 shares during the period. Carlson Capital L P acquired a new stake in Toll Brothers during the 2nd quarter worth about $16,132,000. Nuveen Asset Management LLC grew its holdings in Toll Brothers by 289.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 499,040 shares of the construction company’s stock worth $18,273,000 after acquiring an additional 371,040 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in Toll Brothers by 408.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 420,526 shares of the construction company’s stock worth $15,400,000 after acquiring an additional 337,778 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.
In other Toll Brothers news, CAO Michael J. Grubb sold 1,000 shares of Toll Brothers stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $40.96, for a total transaction of $40,960.00. Following the transaction, the chief accounting officer now owns 2,283 shares of the company’s stock, valued at approximately $93,511.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas C. Jr. Yearley sold 46,875 shares of Toll Brothers stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $38.30, for a total transaction of $1,795,312.50. Following the transaction, the chief executive officer now directly owns 345,273 shares in the company, valued at approximately $13,223,955.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,008 shares of company stock worth $6,113,365. 9.69% of the stock is owned by insiders.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, August 20th. The construction company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.18. Toll Brothers had a net margin of 9.57% and a return on equity of 14.26%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, sell-side analysts predict that Toll Brothers Inc will post 3.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.44 annualized dividend and a yield of 1.11%. Toll Brothers’s payout ratio is 9.34%.
A number of brokerages have weighed in on TOL. SunTrust Banks started coverage on Toll Brothers in a report on Monday, August 12th. They set a “hold” rating and a $37.00 price target for the company. JMP Securities restated a “hold” rating on shares of Toll Brothers in a research note on Wednesday, August 21st. Seaport Global Securities started coverage on Toll Brothers in a research note on Friday, August 23rd. They issued a “neutral” rating for the company. ValuEngine downgraded Toll Brothers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Finally, Zacks Investment Research upgraded Toll Brothers from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a research note on Monday, August 26th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. Toll Brothers currently has a consensus rating of “Hold” and an average price target of $37.17.
Toll Brothers Company Profile
Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and City Living. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.
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