Toll Brothers Inc. (TOL) Stake Lessened by Harbour Capital Advisors LLC
Harbour Capital Advisors LLC reduced its stake in shares of Toll Brothers Inc. (NYSE:TOL) by 87.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,950 shares of the construction company’s stock after selling 46,389 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Toll Brothers were worth $288,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new stake in shares of Toll Brothers in the second quarter valued at about $101,000. Advisors Asset Management Inc. raised its holdings in shares of Toll Brothers by 61.6% in the second quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock valued at $105,000 after acquiring an additional 1,017 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Toll Brothers by 369.1% in the second quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock valued at $108,000 after acquiring an additional 2,152 shares in the last quarter. Aviance Capital Management LLC bought a new stake in shares of Toll Brothers in the second quarter valued at about $151,000. Finally, Toronto Dominion Bank raised its holdings in shares of Toll Brothers by 5.2% in the second quarter. Toronto Dominion Bank now owns 3,896 shares of the construction company’s stock valued at $154,000 after acquiring an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 82.73% of the company’s stock.
Toll Brothers Inc. (NYSE:TOL) traded down $0.25 on Wednesday, hitting $47.71. 169,664 shares of the stock traded hands, compared to its average volume of 1,932,089. Toll Brothers Inc. has a 12-month low of $29.12 and a 12-month high of $48.08. The company has a current ratio of 6.75, a quick ratio of 1.10 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $7,686.39, a P/E ratio of 17.47, a P/E/G ratio of 1.01 and a beta of 1.55.
Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, August 22nd. The construction company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.19. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.51 billion. Toll Brothers had a return on equity of 10.44% and a net margin of 8.12%. Toll Brothers’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. research analysts expect that Toll Brothers Inc. will post 3.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were given a $0.08 dividend. The ex-dividend date was Thursday, October 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.67%. Toll Brothers’s dividend payout ratio is currently 11.90%.
A number of equities analysts have commented on TOL shares. J P Morgan Chase & Co downgraded shares of Toll Brothers from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $41.00 to $45.00 in a report on Thursday, September 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 target price on shares of Toll Brothers in a report on Friday, October 20th. BidaskClub downgraded shares of Toll Brothers from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, October 10th. Finally, UBS AG started coverage on shares of Toll Brothers in a report on Wednesday, October 25th. They issued a “buy” rating and a $50.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $44.00.
In related news, Director Richard J. Braemer sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $37.88, for a total value of $284,100.00. Following the sale, the director now owns 110,373 shares in the company, valued at $4,180,929.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Richard T. Hartman sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $47.00, for a total value of $940,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,187 shares of company stock worth $3,124,490. 8.78% of the stock is owned by insiders.
Toll Brothers Company Profile
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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