Park Avenue Securities LLC Takes $259,000 Position in Toll Brothers Inc. $TOL

Park Avenue Securities LLC purchased a new stake in Toll Brothers Inc. (NYSE:TOL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,273 shares of the construction company’s stock, valued at approximately $259,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Greenhaven Associates Inc. grew its position in shares of Toll Brothers by 0.7% during the 2nd quarter. Greenhaven Associates Inc. now owns 5,601,916 shares of the construction company’s stock worth $639,347,000 after buying an additional 39,334 shares during the period. Dimensional Fund Advisors LP boosted its stake in Toll Brothers by 21.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,159,289 shares of the construction company’s stock valued at $227,988,000 after acquiring an additional 375,372 shares during the last quarter. AQR Capital Management LLC grew its holdings in Toll Brothers by 17.1% during the 1st quarter. AQR Capital Management LLC now owns 1,424,689 shares of the construction company’s stock worth $146,572,000 after acquiring an additional 208,064 shares during the period. Long Pond Capital LP bought a new stake in shares of Toll Brothers during the 1st quarter valued at $117,870,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Toll Brothers by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,091,176 shares of the construction company’s stock valued at $115,217,000 after acquiring an additional 67,156 shares during the last quarter. 91.76% of the stock is owned by institutional investors.

Insider Activity at Toll Brothers

In related news, Director Stephen F. East sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $115.33, for a total transaction of $288,325.00. Following the completion of the transaction, the director directly owned 12,787 shares of the company’s stock, valued at approximately $1,474,724.71. This represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christine Garvey sold 770 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $119.82, for a total value of $92,261.40. Following the completion of the transaction, the director owned 11,590 shares of the company’s stock, valued at approximately $1,388,713.80. This represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,413 shares of company stock worth $5,746,216. Corporate insiders own 1.54% of the company’s stock.

Toll Brothers Trading Up 1.4%

NYSE TOL opened at $140.02 on Thursday. Toll Brothers Inc. has a 52 week low of $86.67 and a 52 week high of $169.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38. The stock’s 50 day moving average price is $134.51 and its two-hundred day moving average price is $116.27. The stock has a market capitalization 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 issued its quarterly earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.59 by $0.14. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $3.60 EPS. As a group, analysts anticipate that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 annualized dividend and a yield of 0.7%. Toll Brothers’s payout ratio is 7.35%.

Analyst Ratings Changes

Several research firms have recently issued reports on TOL. Citigroup raised their price target on Toll Brothers from $138.00 to $147.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wedbush restated an “outperform” rating and set a $165.00 target price on shares of Toll Brothers in a report on Thursday, September 18th. Seaport Res Ptn upgraded Toll Brothers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada increased their price target on shares of Toll Brothers from $133.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Finally, Argus lifted their price objective on shares of Toll Brothers from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.43.

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.