Toll Brothers, Inc. (NYSE:TOL) Holdings Increased by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of Toll Brothers, Inc. (NYSE:TOL) by 36.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,465 shares of the construction company’s stock after buying an additional 10,823 shares during the quarter. Van ECK Associates Corp’s holdings in Toll Brothers were worth $5,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vest Financial LLC increased its holdings in shares of Toll Brothers by 203.2% in the first quarter. Vest Financial LLC now owns 7,009 shares of the construction company’s stock valued at $907,000 after buying an additional 4,697 shares in the last quarter. Claret Asset Management Corp purchased a new stake in shares of Toll Brothers during the first quarter valued at $226,000. Commonwealth Equity Services LLC boosted its position in shares of Toll Brothers by 18.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 49,194 shares of the construction company’s stock valued at $6,364,000 after purchasing an additional 7,786 shares during the period. Greenleaf Trust purchased a new position in Toll Brothers in the 1st quarter worth about $216,000. Finally, Venturi Wealth Management LLC raised its holdings in Toll Brothers by 35.7% during the 1st quarter. Venturi Wealth Management LLC now owns 399 shares of the construction company’s stock worth $52,000 after buying an additional 105 shares during the period. 91.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TOL. Oppenheimer boosted their price objective on Toll Brothers from $141.00 to $157.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Barclays boosted their price objective on Toll Brothers from $115.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, May 28th. Citigroup cut their price objective on Toll Brothers from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday. The Goldman Sachs Group upgraded Toll Brothers from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $112.00 to $124.00 in a report on Monday, June 17th. Finally, Royal Bank of Canada upped their target price on Toll Brothers from $122.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.13.

Insiders Place Their Bets

In other Toll Brothers news, Director Stephen F. East sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 9,389 shares in the company, valued at $1,120,295.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Martin P. Connor sold 16,194 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $118.74, for a total value of $1,922,875.56. Following the transaction, the chief financial officer now owns 28,527 shares in the company, valued at $3,387,295.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen F. East sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $119.32, for a total value of $178,980.00. Following the completion of the transaction, the director now owns 9,389 shares in the company, valued at approximately $1,120,295.48. The disclosure for this sale can be found here. Insiders sold 21,670 shares of company stock worth $2,586,315 over the last three months. 1.54% of the stock is currently owned by corporate insiders.

Toll Brothers Stock Performance

Shares of NYSE TOL traded down $2.74 during trading hours on Friday, reaching $109.02. The stock had a trading volume of 672,462 shares, compared to its average volume of 1,377,526. The business’s fifty day moving average is $120.78 and its two-hundred day moving average is $114.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.59 and a quick ratio of 0.69. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 0.91 and a beta of 1.67. Toll Brothers, Inc. has a twelve month low of $68.08 and a twelve month high of $135.37.

Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, May 21st. The construction company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.13 by ($0.75). The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.58 billion. Toll Brothers had a net margin of 15.07% and a return on equity of 20.91%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.85 earnings per share. As a group, research analysts expect that Toll Brothers, Inc. will post 12.94 EPS for the current year.

Toll Brothers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.92 annualized dividend and a yield of 0.84%. Toll Brothers’s dividend payout ratio is currently 6.28%.

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.