Shell Asset Management Co. lessened its holdings in Toll Brothers, Inc. (NYSE:TOL – Get Rating) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,882 shares of the construction company’s stock after selling 1,316 shares during the quarter. Shell Asset Management Co.’s holdings in Toll Brothers were worth $418,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in Toll Brothers in the fourth quarter worth $5,075,000. Exchange Traded Concepts LLC lifted its stake in Toll Brothers by 121.7% in the first quarter. Exchange Traded Concepts LLC now owns 787 shares of the construction company’s stock valued at $37,000 after buying an additional 432 shares during the last quarter. Citigroup Inc. lifted its stake in Toll Brothers by 3.5% in the fourth quarter. Citigroup Inc. now owns 173,779 shares of the construction company’s stock valued at $12,580,000 after buying an additional 5,815 shares during the last quarter. Dupont Capital Management Corp bought a new stake in Toll Brothers in the fourth quarter valued at $713,000. Finally, Farmers & Merchants Investments Inc. bought a new stake in Toll Brothers in the first quarter valued at $32,000. Institutional investors and hedge funds own 87.70% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Wedbush cut their target price on Toll Brothers from $73.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, May 26th. Raymond James cut their price objective on shares of Toll Brothers from $82.00 to $75.00 in a research note on Tuesday, May 31st. Citigroup cut their price objective on shares of Toll Brothers from $49.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 21st. UBS Group cut their price objective on shares of Toll Brothers from $74.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Finally, Royal Bank of Canada cut their price objective on shares of Toll Brothers from $67.00 to $53.00 in a research note on Thursday, May 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Toll Brothers has a consensus rating of “Hold” and an average price target of $55.42.
Toll Brothers Price Performance
Toll Brothers (NYSE:TOL – Get Rating) last issued its quarterly earnings results on Tuesday, May 24th. The construction company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.39. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Toll Brothers had a return on equity of 18.61% and a net margin of 10.48%. Toll Brothers’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. As a group, sell-side analysts anticipate that Toll Brothers, Inc. will post 10.16 EPS for the current fiscal year.
Toll Brothers Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Friday, July 8th were paid a $0.20 dividend. The ex-dividend date was Thursday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. Toll Brothers’s dividend payout ratio is currently 10.03%.
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 City Living. It also designs, builds, markets, and sells condominiums through Toll Brothers City Living.
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