Fifth Third Bancorp Boosts Stock Holdings in Toll Brothers Inc. $TOL

Fifth Third Bancorp boosted its position in Toll Brothers Inc. (NYSE:TOL) by 19.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 977 shares of the construction company’s stock after purchasing an additional 157 shares during the period. Fifth Third Bancorp’s holdings in Toll Brothers were worth $112,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Caitlin John LLC purchased a new position in Toll Brothers in the second quarter valued at approximately $354,000. GAMMA Investing LLC raised its holdings in Toll Brothers by 50.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,946 shares of the construction company’s stock valued at $222,000 after acquiring an additional 651 shares during the period. Park Avenue Securities LLC bought a new stake in Toll Brothers during the 2nd quarter valued at $259,000. Kaufman Rossin Wealth LLC bought a new stake in Toll Brothers during the 2nd quarter valued at $431,000. Finally, Farther Finance Advisors LLC raised its holdings in Toll Brothers by 6.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,485 shares of the construction company’s stock valued at $169,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Toll Brothers Stock Performance

NYSE TOL opened at $140.02 on Thursday. The company has a 50-day simple moving average of $134.51 and a two-hundred day simple moving average of $116.27. The company has a quick ratio of 0.51, a current ratio of 4.38 and a debt-to-equity ratio of 0.36. Toll Brothers Inc. has a 12-month low of $86.67 and a 12-month high of $169.52. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.64 and a beta of 1.40.

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

Toll Brothers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, October 10th. Toll Brothers’s dividend payout ratio is presently 7.35%.

Analysts Set New Price Targets

TOL has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their target price on shares of Toll Brothers from $133.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Seaport Res Ptn raised shares of Toll Brothers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 23rd. Raymond James Financial reissued a “strong-buy” rating and set a $160.00 target price (up previously from $130.00) on shares of Toll Brothers in a report on Monday, August 25th. Keefe, Bruyette & Woods boosted their target price on shares of Toll Brothers from $143.00 to $145.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Finally, Bank of America boosted their target price on shares of Toll Brothers from $150.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.43.

Insider Buying and Selling at Toll Brothers

In other Toll Brothers news, COO Robert Parahus sold 9,831 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $130.84, for a total transaction of $1,286,288.04. Following the completion of the sale, the chief operating officer directly owned 19,692 shares in the company, valued at $2,576,501.28. This represents a 33.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christine Garvey sold 770 shares of the company’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 sale, the director owned 11,590 shares of the company’s stock, valued at approximately $1,388,713.80. The trade was a 6.23% 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. 1.54% of the stock is currently owned by insiders.

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.