D.A. Davidson & CO. Cuts Holdings in Toll Brothers Inc. $TOL

D.A. Davidson & CO. lowered its stake in Toll Brothers Inc. (NYSE:TOL) by 10.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,111 shares of the construction company’s stock after selling 615 shares during the period. D.A. Davidson & CO.’s holdings in Toll Brothers were worth $583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TOL. Cambridge Investment Research Advisors Inc. grew its position in Toll Brothers by 16.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,411 shares of the construction company’s stock worth $1,205,000 after acquiring an additional 1,582 shares in the last quarter. Spire Wealth Management grew its position in Toll Brothers by 57.2% in the first quarter. Spire Wealth Management now owns 544 shares of the construction company’s stock worth $57,000 after acquiring an additional 198 shares in the last quarter. KBC Group NV grew its position in Toll Brothers by 4.2% in the first quarter. KBC Group NV now owns 4,415 shares of the construction company’s stock worth $466,000 after acquiring an additional 176 shares in the last quarter. Vontobel Holding Ltd. grew its position in Toll Brothers by 60.5% in the first quarter. Vontobel Holding Ltd. now owns 11,583 shares of the construction company’s stock worth $1,223,000 after acquiring an additional 4,366 shares in the last quarter. Finally, Rossby Financial LCC purchased a new position in Toll Brothers in the first quarter worth about $277,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TOL shares. Royal Bank Of Canada lifted their price target on Toll Brothers from $133.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Seaport Res Ptn upgraded Toll Brothers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company boosted their target price on Toll Brothers from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Citigroup boosted their target price on Toll Brothers from $138.00 to $147.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods boosted their target price on Toll Brothers from $143.00 to $145.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.43.

Insider Activity

In other news, COO Robert Parahus sold 9,831 shares of Toll Brothers stock in a transaction that occurred on 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 owned 19,692 shares of the company’s stock, valued at approximately $2,576,501.28. The trade was a 33.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of Toll Brothers stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 286,117 shares of the company’s stock, valued at $39,558,536.42. This represents a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 38,643 shares of company stock valued at $5,305,630. Corporate insiders own 1.54% of the company’s stock.

Toll Brothers Stock Performance

Toll Brothers stock opened at $134.51 on Thursday. The company has a 50 day moving average price of $138.15 and a 200-day moving average price of $121.09. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38. Toll Brothers Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $169.52. The company has a market capitalization of $12.96 billion, a PE ratio of 9.88, a P/E/G ratio of 1.65 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 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 firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the firm posted $3.60 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. As a group, equities analysts forecast that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, October 10th. Toll Brothers’s payout ratio is currently 7.35%.

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.