Bank of New York Mellon Corp increased its position in Toll Brothers, Inc. (NYSE:TOL – Get Rating) by 2.7% during the third quarter, Holdings Channel reports. The fund owned 3,019,933 shares of the construction company’s stock after purchasing an additional 78,109 shares during the quarter. Bank of New York Mellon Corp’s holdings in Toll Brothers were worth $126,838,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of TOL. Quadrant Capital Group LLC increased its holdings in shares of Toll Brothers by 70.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 634 shares of the construction company’s stock worth $28,000 after acquiring an additional 261 shares during the period. Eagle Bay Advisors LLC bought a new position in Toll Brothers in the 2nd quarter valued at about $40,000. Private Trust Co. NA bought a new position in Toll Brothers in the 2nd quarter valued at about $42,000. Wipfli Financial Advisors LLC bought a new position in Toll Brothers in the 3rd quarter valued at about $50,000. Finally, Dupont Capital Management Corp bought a new position in shares of Toll Brothers during the 3rd quarter valued at about $57,000. Institutional investors and hedge funds own 82.74% of the company’s stock.
Analyst Upgrades and Downgrades
TOL has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Toll Brothers to $54.00 in a research note on Monday, December 12th. Barclays increased their price target on Toll Brothers from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Thursday, December 8th. JPMorgan Chase & Co. upgraded Toll Brothers from a “neutral” rating to an “overweight” rating and increased their price target for the company from $47.00 to $58.00 in a report on Tuesday, November 22nd. Seaport Res Ptn reiterated a “neutral” rating on shares of Toll Brothers in a report on Friday, December 9th. Finally, Bank of America raised their price objective on shares of Toll Brothers from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.33.
Insider Activity at Toll Brothers
Toll Brothers Stock Down 1.9 %
Shares of NYSE TOL opened at $57.67 on Friday. The stock has a market cap of $6.39 billion, a PE ratio of 5.00, a PEG ratio of 0.60 and a beta of 1.39. The business has a fifty day moving average of $57.89 and a two-hundred day moving average of $49.95. Toll Brothers, Inc. has a 52-week low of $39.53 and a 52-week high of $63.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 5.59.
Toll Brothers (NYSE:TOL – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The construction company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.33. Toll Brothers had a return on equity of 21.02% and a net margin of 12.92%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business earned $1.24 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts expect that Toll Brothers, Inc. will post 8.66 earnings per share for the current fiscal year.
Toll Brothers Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 21st. Investors of record on Thursday, April 6th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from Toll Brothers’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, April 5th. Toll Brothers’s payout ratio is currently 6.94%.
Toll Brothers Company Profile
Toll Brothers, Inc engages in the design, building, marketing, and arranging of financing for detached and attached homes in residential communities. It operates through the following segments: Traditional Home Building and City Living. The Traditional Home Building segment builds and sells homes for detached and attached homes in luxury residential communities in affluent suburban markets and caters to move-up, empty-nester, active-adult, age-qualified, and second-home buyers.
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