Wedge Capital Management L L P NC lowered its stake in shares of Toll Brothers, Inc. (NYSE:TOL – Get Rating) by 99.3% in the second quarter, HoldingsChannel reports. The firm owned 5,618 shares of the construction company’s stock after selling 771,260 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Toll Brothers were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TOL. Private Advisor Group LLC boosted its position in Toll Brothers by 45.6% during the 4th quarter. Private Advisor Group LLC now owns 13,013 shares of the construction company’s stock valued at $942,000 after purchasing an additional 4,076 shares during the period. Bank of Montreal Can boosted its position in Toll Brothers by 49.3% during the 4th quarter. Bank of Montreal Can now owns 77,128 shares of the construction company’s stock worth $5,604,000 after acquiring an additional 25,466 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Toll Brothers by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 657,355 shares of the construction company’s stock worth $47,586,000 after acquiring an additional 14,760 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Toll Brothers by 380.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,375 shares of the construction company’s stock worth $244,000 after acquiring an additional 2,673 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in Toll Brothers during the 4th quarter worth $217,000. Institutional investors and hedge funds own 85.37% of the company’s stock.
Wall Street Analyst Weigh In
TOL has been the subject of a number of analyst reports. Citigroup reduced their price target on Toll Brothers from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st. Royal Bank of Canada reduced their price target on Toll Brothers from $67.00 to $53.00 in a research report on Thursday, May 26th. Wells Fargo & Company lowered Toll Brothers from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $56.00 to $48.00 in a research report on Friday, June 17th. JPMorgan Chase & Co. dropped their price objective on Toll Brothers from $53.50 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 12th. Finally, Wedbush dropped their price objective on Toll Brothers from $62.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Toll Brothers currently has a consensus rating of “Hold” and an average target price of $51.67.
Toll Brothers Stock Down 1.3 %
Toll Brothers (NYSE:TOL – Get Rating) last announced its earnings results on Tuesday, August 23rd. The construction company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Toll Brothers had a return on equity of 18.93% and a net margin of 10.62%. During the same quarter last year, the firm earned $1.87 EPS. Equities analysts anticipate that Toll Brothers, Inc. will post 9.47 earnings per share for the current year.
Toll Brothers Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, October 6th. Toll Brothers’s payout ratio is 9.46%.
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. 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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