Shellback Capital LP Acquires New Position in Toll Brothers, Inc. (NYSE:TOL)

Shellback Capital LP bought a new position in shares of Toll Brothers, Inc. (NYSE:TOL) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 50,000 shares of the construction company’s stock, valued at approximately $5,759,000.

A number of other hedge funds have also bought and sold shares of the stock. Wells Fargo & Company MN boosted its holdings in shares of Toll Brothers by 13.6% in the 4th quarter. Wells Fargo & Company MN now owns 227,495 shares of the construction company’s stock valued at $23,384,000 after acquiring an additional 27,181 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in Toll Brothers by 29.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,376 shares of the construction company’s stock worth $549,000 after purchasing an additional 1,218 shares during the period. Advisory Services Network LLC grew its holdings in Toll Brothers by 51.2% in the fourth quarter. Advisory Services Network LLC now owns 4,416 shares of the construction company’s stock valued at $454,000 after purchasing an additional 1,496 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Toll Brothers during the 4th quarter worth approximately $540,000. Finally, Bank of Nova Scotia purchased a new position in shares of Toll Brothers during the 4th quarter valued at approximately $18,792,000. Institutional investors and hedge funds own 91.76% of the company’s stock.

Toll Brothers Stock Up 0.2 %

Shares of NYSE:TOL opened at $150.64 on Friday. Toll Brothers, Inc. has a 52-week low of $68.08 and a 52-week high of $154.62. The stock has a market cap of $15.21 billion, a P/E ratio of 10.29, a PEG ratio of 1.24 and a beta of 1.67. The business has a fifty day moving average of $139.09 and a two-hundred day moving average of $127.27. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38.

Toll Brothers (NYSE:TOL) last announced its quarterly 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. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company posted $3.73 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. On average, research analysts expect that Toll Brothers, Inc. will post 13.51 earnings per share for the current year.

Toll Brothers Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Toll Brothers’s dividend payout ratio is currently 6.28%.

Insider Activity

In related news, CFO Martin P. Connor sold 22,673 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $143.28, for a total value of $3,248,587.44. Following the completion of the transaction, the chief financial officer now directly owns 14,721 shares in the company, valued at $2,109,224.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Toll Brothers news, CFO Martin P. Connor sold 22,673 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 14,721 shares of the company’s stock, valued at $2,109,224.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of Toll Brothers stock in a transaction dated Friday, August 23rd. The shares were 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 owns 346,382 shares of the company’s stock, valued at $51,087,881.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,257 shares of company stock valued at $19,992,602. 1.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on TOL. Wedbush boosted their price target on shares of Toll Brothers from $120.00 to $148.00 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Argus raised their price target on shares of Toll Brothers from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Citigroup lowered their price objective on Toll Brothers from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Seaport Res Ptn cut Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $142.00 price target on shares of Toll Brothers in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

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.