Cornerstone Capital Management Holdings LLC. purchased a new stake in Toll Brothers Inc (NYSE:TOL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 113,828 shares of the construction company’s stock, valued at approximately $4,719,000. Cornerstone Capital Management Holdings LLC. owned 0.07% of Toll Brothers as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Toll Brothers by 95.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 212,002 shares of the construction company’s stock valued at $8,792,000 after buying an additional 103,773 shares during the period. AMP Capital Investors Ltd raised its stake in shares of Toll Brothers by 1.4% during the third quarter. AMP Capital Investors Ltd now owns 124,774 shares of the construction company’s stock valued at $5,174,000 after purchasing an additional 1,704 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Toll Brothers by 2.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 66,400 shares of the construction company’s stock valued at $2,765,000 after purchasing an additional 1,300 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Toll Brothers during the third quarter valued at approximately $4,612,000. Finally, Convergence Investment Partners LLC raised its stake in shares of Toll Brothers by 93.3% during the third quarter. Convergence Investment Partners LLC now owns 24,165 shares of the construction company’s stock valued at $1,002,000 after purchasing an additional 11,663 shares during the period. Hedge funds and other institutional investors own 82.52% of the company’s stock.
A number of research firms have recently issued reports on TOL. MKM Partners lifted their price objective on shares of Toll Brothers to $54.00 and gave the company a “buy” rating in a research note on Wednesday, November 29th. Royal Bank of Canada reiterated a “buy” rating and set a $45.00 price objective on shares of Toll Brothers in a research note on Wednesday, November 15th. Mizuho set a $52.00 price objective on shares of Toll Brothers and gave the company a “buy” rating in a research note on Thursday, December 7th. ValuEngine lowered shares of Toll Brothers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. Finally, Barclays set a $40.00 price objective on shares of Toll Brothers and gave the company a “sell” rating in a research note on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.93.
Toll Brothers Inc (TOL) traded up $0.62 during mid-day trading on Friday, hitting $47.70. 5,000,859 shares of the stock were exchanged, compared to its average volume of 2,911,328. Toll Brothers Inc has a twelve month low of $30.44 and a twelve month high of $51.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 6.61 and a quick ratio of 0.97. The firm has a market capitalization of $7,701.11, a P/E ratio of 14.76, a P/E/G ratio of 1.23 and a beta of 1.57.
Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, December 5th. The construction company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.02). Toll Brothers had a return on equity of 12.00% and a net margin of 9.21%. The company 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. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. research analysts forecast that Toll Brothers Inc will post 3.6 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, January 11th. Toll Brothers’s payout ratio is currently 10.03%.
In other news, President Richard T. Hartman sold 8,537 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $46.00, for a total transaction of $392,702.00. Following the completion of the sale, the president now owns 27,233 shares of the company’s stock, valued at $1,252,718. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Richard T. Hartman sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $47.00, for a total transaction of $940,000.00. The disclosure for this sale can be found here. Insiders have sold 71,787 shares of company stock valued at $3,255,777 in the last three months. Corporate insiders own 8.78% of the company’s stock.
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Toll Brothers 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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