Toll Brothers Inc. $TOL Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its stake in shares of Toll Brothers Inc. (NYSE:TOL) by 79.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,804 shares of the construction company’s stock after selling 81,932 shares during the quarter. Acadian Asset Management LLC’s holdings in Toll Brothers were worth $2,196,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group grew its position in Toll Brothers by 52.8% in the first quarter. Brooklyn Investment Group now owns 272 shares of the construction company’s stock worth $29,000 after buying an additional 94 shares during the last quarter. KLP Kapitalforvaltning AS grew its position in Toll Brothers by 0.4% in the first quarter. KLP Kapitalforvaltning AS now owns 24,800 shares of the construction company’s stock worth $2,619,000 after buying an additional 100 shares during the last quarter. J.Safra Asset Management Corp grew its position in Toll Brothers by 6.7% in the first quarter. J.Safra Asset Management Corp now owns 1,706 shares of the construction company’s stock worth $180,000 after buying an additional 107 shares during the last quarter. Meeder Advisory Services Inc. grew its position in Toll Brothers by 5.5% in the first quarter. Meeder Advisory Services Inc. now owns 2,094 shares of the construction company’s stock worth $221,000 after buying an additional 109 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in Toll Brothers by 84.2% in the first quarter. Sound Income Strategies LLC now owns 245 shares of the construction company’s stock worth $26,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

Toll Brothers Price Performance

TOL opened at $141.25 on Wednesday. The stock has a market cap of $13.61 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.93 and a beta of 1.33. Toll Brothers Inc. has a 1 year low of $86.67 and a 1 year high of $169.52. The company has a current ratio of 4.38, a quick ratio of 0.51 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $130.55 and a 200 day moving average price of $114.00.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.59 by $0.14. Toll Brothers had a return on equity of 17.42% and a net margin of 12.64%.The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the company earned $3.60 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. Analysts forecast that Toll Brothers Inc. will post 13.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Toll Brothers from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Royal Bank Of Canada lifted their price target on shares of Toll Brothers from $133.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Citigroup lifted their price objective on shares of Toll Brothers from $134.00 to $138.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Evercore ISI reissued an “outperform” rating and set a $169.00 target price (up from $167.00) on shares of Toll Brothers in a research note on Thursday, May 22nd. Finally, Argus raised their target price on Toll Brothers from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.07.

Insider Activity at Toll Brothers

In other Toll Brothers news, Director Paul E. Shapiro sold 3,812 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $147.65, for a total transaction of $562,841.80. Following the transaction, the director directly owned 118,753 shares in the company, valued at $17,533,880.45. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $138.26, for a total value of $3,456,500.00. Following the transaction, the chief executive officer owned 286,117 shares in the company, valued at approximately $39,558,536.42. This trade represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,413 shares of company stock valued at $5,746,216. Insiders own 1.54% of the company’s stock.

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.