Mirae Asset Global Investments Co. Ltd. Makes New Investment in Toll Brothers, Inc. (NYSE:TOL)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Toll Brothers, Inc. (NYSE:TOL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,047 shares of the construction company’s stock, valued at approximately $1,649,000.

Several other institutional investors have also recently bought and sold shares of TOL. First Capital Advisors Group LLC. acquired a new position in Toll Brothers during the second quarter worth about $36,000. IFP Advisors Inc raised its stake in Toll Brothers by 87.1% during the third quarter. IFP Advisors Inc now owns 494 shares of the construction company’s stock worth $37,000 after acquiring an additional 230 shares in the last quarter. Castleview Partners LLC acquired a new position in Toll Brothers during the third quarter worth about $37,000. Dark Forest Capital Management LP acquired a new position in Toll Brothers during the first quarter worth about $38,000. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Toll Brothers by 23.1% during the third quarter. Baker Avenue Asset Management LP now owns 677 shares of the construction company’s stock worth $50,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

Toll Brothers Price Performance

Toll Brothers stock opened at $112.21 on Friday. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 0.94 and a beta of 1.66. Toll Brothers, Inc. has a 52-week low of $61.17 and a 52-week high of $130.63. The stock’s 50 day moving average price is $117.45 and its two-hundred day moving average price is $99.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.65 and a current ratio of 4.95.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.48. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Toll Brothers had a return on equity of 21.04% and a net margin of 13.97%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 EPS. On average, equities analysts predict that Toll Brothers, Inc. will post 13.71 earnings per share for the current year.

Toll Brothers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.82%. This is a boost from Toll Brothers’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, April 4th. Toll Brothers’s dividend payout ratio is presently 7.11%.

Insiders Place Their Bets

In other Toll Brothers news, Director Stephen F. East sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $119.32, for a total transaction of $178,980.00. Following the transaction, the director now directly owns 9,389 shares in the company, valued at approximately $1,120,295.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Stephen F. East sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $119.32, for a total transaction of $178,980.00. Following the transaction, the director now directly owns 9,389 shares of the company’s stock, valued at $1,120,295.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin P. Connor sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $116.05, for a total value of $580,250.00. Following the transaction, the chief financial officer now directly owns 49,721 shares in the company, valued at $5,770,122.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,500 shares of company stock worth $7,881,930. Corporate insiders own 1.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wedbush restated a “neutral” rating and set a $87.00 price target on shares of Toll Brothers in a report on Wednesday, February 21st. Keefe, Bruyette & Woods boosted their price target on Toll Brothers from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Oppenheimer boosted their price target on Toll Brothers from $141.00 to $157.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. boosted their price target on Toll Brothers from $127.00 to $128.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Citigroup boosted their price target on Toll Brothers from $116.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.80.

About Toll Brothers

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. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.