Amalgamated Bank Cuts Stock Position in Toll Brothers, Inc. (NYSE:TOL)

Amalgamated Bank lowered its position in Toll Brothers, Inc. (NYSE:TOL) by 9.1% during the second quarter, Holdings Channel reports. The institutional investor owned 65,207 shares of the construction company’s stock after selling 6,517 shares during the quarter. Amalgamated Bank’s holdings in Toll Brothers were worth $7,511,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Toll Brothers in the 4th quarter worth approximately $128,982,000. PNC Financial Services Group Inc. boosted its stake in Toll Brothers by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 20,656 shares of the construction company’s stock worth $2,123,000 after purchasing an additional 444 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Toll Brothers by 13.6% in the 4th quarter. Wells Fargo & Company MN now owns 227,495 shares of the construction company’s stock worth $23,384,000 after purchasing an additional 27,181 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in Toll Brothers in the 4th quarter worth approximately $630,000. Finally, CreativeOne Wealth LLC acquired a new stake in Toll Brothers in the 4th quarter worth approximately $362,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Activity

In related news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total value of $12,917,764.16. Following the completion of the sale, the chief executive officer now owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Martin P. Connor sold 22,673 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $143.28, for a total value of $3,248,587.44. Following the completion of the sale, the chief financial officer now owns 14,721 shares of the company’s stock, valued at approximately $2,109,224.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the sale, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. The disclosure for this sale can be found here. Insiders own 1.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TOL. Oppenheimer lifted their target price on shares of Toll Brothers from $157.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. UBS Group lifted their target price on shares of Toll Brothers from $140.00 to $154.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Royal Bank of Canada lifted their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. The Goldman Sachs Group upgraded shares of Toll Brothers from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $112.00 to $124.00 in a research note on Monday, June 17th. Finally, Citigroup decreased their price objective on shares of Toll Brothers from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Toll Brothers Price Performance

NYSE:TOL opened at $153.12 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67. The company has a 50 day moving average price of $137.08 and a 200-day moving average price of $126.28. Toll Brothers, Inc. has a 1-year low of $68.08 and a 1-year high of $154.62.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.29. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.73 EPS. Equities research analysts forecast that Toll Brothers, Inc. will post 13.31 EPS for the current year.

Toll Brothers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, October 11th. Toll Brothers’s dividend payout ratio (DPR) is 6.28%.

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.