Toll Brothers Inc (TOL) Position Decreased by California State Teachers Retirement System
California State Teachers Retirement System decreased its stake in Toll Brothers Inc (NYSE:TOL) by 9.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 258,332 shares of the construction company’s stock after selling 25,951 shares during the quarter. California State Teachers Retirement System owned 0.16% of Toll Brothers worth $10,713,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Toll Brothers by 1.8% during the 2nd quarter. BlackRock Inc. now owns 16,811,380 shares of the construction company’s stock worth $664,216,000 after purchasing an additional 291,112 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Toll Brothers by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,540,189 shares of the construction company’s stock valued at $495,464,000 after acquiring an additional 323,334 shares in the last quarter. FMR LLC raised its stake in shares of Toll Brothers by 13.4% in the 2nd quarter. FMR LLC now owns 9,042,726 shares of the construction company’s stock valued at $357,278,000 after acquiring an additional 1,067,193 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Toll Brothers by 134.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,198,069 shares of the construction company’s stock valued at $294,978,000 after acquiring an additional 4,132,120 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Toll Brothers by 0.9% in the 2nd quarter. State Street Corp now owns 6,257,962 shares of the construction company’s stock valued at $247,263,000 after acquiring an additional 53,781 shares in the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.
Shares of Toll Brothers Inc (NYSE TOL) opened at $47.29 on Monday. Toll Brothers Inc has a fifty-two week low of $30.44 and a fifty-two week high of $51.08. The stock has a market capitalization of $7,271.12, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 1.24 and a beta of 1.57. The company has a quick ratio of 0.97, a current ratio of 6.61 and a debt-to-equity ratio of 0.71.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, December 5th. The construction company reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.02). Toll Brothers had a return on equity of 12.00% and a net margin of 9.21%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business posted $0.67 EPS. Toll Brothers’s revenue for the quarter was up 9.3% compared to the same quarter last year. equities research analysts forecast that Toll Brothers Inc will post 3.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, January 11th. Toll Brothers’s payout ratio is presently 10.03%.
A number of research analysts recently weighed in on TOL shares. Royal Bank of Canada reissued a “buy” rating and issued a $45.00 price objective on shares of Toll Brothers in a research note on Wednesday, November 15th. JPMorgan Chase & Co. downgraded Toll Brothers from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $41.00 to $45.00 in a research note on Thursday, September 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $47.00 price objective on shares of Toll Brothers in a research note on Friday, October 20th. Zacks Investment Research raised Toll Brothers from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Tuesday, October 10th. Finally, UBS Group began coverage on Toll Brothers in a report on Wednesday, October 25th. They issued a “buy” rating and a $50.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.19.
In related news, CFO Martin P. Connor sold 5,000 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $43.45, for a total value of $217,250.00. Following the sale, the chief financial officer now owns 37,836 shares of the company’s stock, valued at approximately $1,643,974.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Martin P. Connor sold 2,000 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $41.45, for a total value of $82,900.00. Following the completion of the sale, the chief financial officer now directly owns 34,836 shares in the company, valued at approximately $1,443,952.20. The disclosure for this sale can be found here. Insiders have sold a total of 71,787 shares of company stock worth $3,255,777 in the last three months. 8.78% of the stock is owned by insiders.
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About Toll Brothers
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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