Mackenzie Financial Corp Sells 21,126 Shares of Toll Brothers Inc. (NYSE:TOL)

Mackenzie Financial Corp decreased its position in Toll Brothers Inc. (NYSE:TOL) by 75.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,010 shares of the construction company’s stock after selling 21,126 shares during the period. Mackenzie Financial Corp’s holdings in Toll Brothers were worth $740,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peapack Gladstone Financial Corp increased its stake in shares of Toll Brothers by 5.9% during the 4th quarter. Peapack Gladstone Financial Corp now owns 1,800 shares of the construction company’s stock worth $227,000 after purchasing an additional 100 shares during the last quarter. FMR LLC boosted its holdings in Toll Brothers by 19.4% in the 4th quarter. FMR LLC now owns 2,528,853 shares of the construction company’s stock valued at $318,509,000 after purchasing an additional 410,394 shares during the period. Bank of Montreal Can raised its position in shares of Toll Brothers by 184.5% during the 4th quarter. Bank of Montreal Can now owns 90,530 shares of the construction company’s stock valued at $11,402,000 after buying an additional 58,712 shares in the last quarter. Invesco Ltd. raised its position in shares of Toll Brothers by 14.2% during the 4th quarter. Invesco Ltd. now owns 1,903,545 shares of the construction company’s stock valued at $239,751,000 after buying an additional 236,402 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in shares of Toll Brothers during the 4th quarter valued at $17,521,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Activity at Toll Brothers

In related news, Director Christine Garvey sold 770 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $119.82, for a total transaction of $92,261.40. Following the transaction, the director owned 11,590 shares in the company, valued at $1,388,713.80. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen F. East sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $115.33, for a total transaction of $288,325.00. Following the transaction, the director owned 12,787 shares in the company, valued at $1,474,724.71. This represents a 16.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,770 shares of company stock worth $440,586 over the last 90 days. 1.54% of the stock is owned by company insiders.

Toll Brothers Price Performance

TOL stock opened at $125.84 on Thursday. The firm’s 50-day moving average price is $115.21 and its two-hundred day moving average price is $111.94. Toll Brothers Inc. has a 12-month low of $86.67 and a 12-month high of $169.52. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.32 and a beta of 1.33. The company has a current ratio of 4.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.35.

Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, May 20th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.64. Toll Brothers had a net margin of 12.95% and a return on equity of 17.87%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company earned $3.38 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts predict that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Toll Brothers’s payout ratio is currently 7.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TOL shares. Raymond James Financial restated a “strong-buy” rating and set a $130.00 price objective (down previously from $145.00) on shares of Toll Brothers in a research report on Friday, May 23rd. Evercore ISI reiterated an “outperform” rating and issued a $169.00 target price (up previously from $167.00) on shares of Toll Brothers in a research report on Thursday, May 22nd. Oppenheimer decreased their target price on shares of Toll Brothers from $165.00 to $155.00 and set an “outperform” rating on the stock in a research report on Thursday, May 15th. UBS Group reiterated a “buy” rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Toll Brothers from $132.00 to $120.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Toll Brothers presently has an average rating of “Moderate Buy” and a consensus price target of $142.23.

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.