Janney Montgomery Scott LLC Lowers Stake in Toll Brothers Inc. $TOL

Janney Montgomery Scott LLC lowered its stake in shares of Toll Brothers Inc. (NYSE:TOL) by 17.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,488 shares of the construction company’s stock after selling 18,347 shares during the quarter. Janney Montgomery Scott LLC owned 0.09% of Toll Brothers worth $10,099,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TOL. Long Pond Capital LP purchased a new position in Toll Brothers in the 1st quarter worth $117,870,000. Victory Capital Management Inc. raised its position in Toll Brothers by 149.5% in the 1st quarter. Victory Capital Management Inc. now owns 974,587 shares of the construction company’s stock worth $102,907,000 after purchasing an additional 583,940 shares during the period. Dimensional Fund Advisors LP raised its position in Toll Brothers by 21.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,159,289 shares of the construction company’s stock worth $227,988,000 after purchasing an additional 375,372 shares during the period. Ceredex Value Advisors LLC purchased a new position in Toll Brothers in the 1st quarter worth $28,720,000. Finally, Amundi raised its position in Toll Brothers by 429.1% in the 1st quarter. Amundi now owns 316,888 shares of the construction company’s stock worth $31,179,000 after purchasing an additional 256,996 shares during the period. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Activity at Toll Brothers

In related news, Director Paul E. Shapiro sold 3,812 shares of Toll Brothers stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $147.65, for a total transaction of $562,841.80. Following the completion of the transaction, the director directly owned 118,753 shares of the company’s stock, valued at $17,533,880.45. This trade represents a 3.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of Toll Brothers stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $138.26, for a total transaction of $3,456,500.00. Following the transaction, the chief executive officer directly owned 286,117 shares of the company’s stock, 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. Insiders sold a total of 42,413 shares of company stock worth $5,746,216 over the last 90 days. 1.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Toll Brothers in a research report on Saturday, September 27th. Citigroup lifted their target price on shares of Toll Brothers from $138.00 to $147.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America raised their price target on shares of Toll Brothers from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Royal Bank Of Canada raised their price target on shares of Toll Brothers from $133.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Finally, Wells Fargo & Company raised their price target on shares of Toll Brothers from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Toll Brothers currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.43.

Toll Brothers Trading Up 2.3%

Shares of TOL opened at $142.80 on Friday. The firm’s 50-day moving average price is $135.25 and its 200-day moving average price is $116.83. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.69 and a beta of 1.40. The company has a current ratio of 4.38, a quick ratio of 0.51 and a debt-to-equity ratio of 0.36. Toll Brothers Inc. has a 1-year low of $86.67 and a 1-year high of $169.52.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.59 by $0.14. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.60 EPS. Sell-side analysts anticipate 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. Investors of record on Friday, October 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 10th. Toll Brothers’s dividend payout ratio (DPR) is 7.35%.

Toll Brothers Company Profile

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.