California Public Employees Retirement System cut its stake in shares of Toll Brothers, Inc. (NYSE:TOL – Get Rating) by 6.4% during the second quarter, HoldingsChannel.com reports. The firm owned 205,291 shares of the construction company’s stock after selling 14,038 shares during the period. California Public Employees Retirement System’s holdings in Toll Brothers were worth $9,156,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Toll Brothers by 8.2% during the 2nd quarter. Principal Financial Group Inc. now owns 437,145 shares of the construction company’s stock worth $19,497,000 after purchasing an additional 33,021 shares during the period. Cerity Partners LLC acquired a new position in shares of Toll Brothers during the 2nd quarter worth $273,000. Pictet Asset Management SA grew its stake in shares of Toll Brothers by 14.9% during the 2nd quarter. Pictet Asset Management SA now owns 780,574 shares of the construction company’s stock worth $34,814,000 after purchasing an additional 101,142 shares during the period. First Pacific Advisors LP acquired a new stake in Toll Brothers in the 2nd quarter valued at about $558,000. Finally, Advisors Asset Management Inc. grew its stake in Toll Brothers by 163.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 8,528 shares of the construction company’s stock valued at $380,000 after acquiring an additional 5,286 shares during the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently commented on TOL shares. Citigroup increased their price objective on shares of Toll Brothers to $47.00 in a research note on Thursday, October 13th. Bank of America cut shares of Toll Brothers from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research note on Thursday, August 25th. Wedbush lowered their price objective on shares of Toll Brothers from $62.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. StockNews.com started coverage on shares of Toll Brothers in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised shares of Toll Brothers from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $47.00 to $58.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.75.
Insider Transactions at Toll Brothers
Toll Brothers Trading Up 2.1 %
Shares of TOL stock opened at $46.00 on Wednesday. The firm has a market cap of $5.21 billion, a P/E ratio of 5.44 and a beta of 1.38. Toll Brothers, Inc. has a 1-year low of $39.53 and a 1-year high of $75.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.99 and a quick ratio of 0.48. The firm’s 50-day simple moving average is $43.46 and its 200-day simple moving average is $45.74.
Toll Brothers (NYSE:TOL – Get Rating) last announced its quarterly earnings data on Tuesday, August 23rd. The construction company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. Toll Brothers had a net margin of 10.62% and a return on equity of 18.93%. During the same period in the prior year, the firm posted $1.87 EPS. As a group, equities analysts forecast that Toll Brothers, Inc. will post 9.31 EPS for the current year.
Toll Brothers Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 21st. Stockholders of record on Friday, October 7th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, October 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.74%. Toll Brothers’s payout ratio is currently 9.46%.
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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