Bank of New York Mellon Corp Decreases Position in Toll Brothers, Inc. (NYSE:TOL)

Bank of New York Mellon Corp lessened its position in Toll Brothers, Inc. (NYSE:TOL) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,483,347 shares of the construction company’s stock after selling 2,769 shares during the period. Bank of New York Mellon Corp owned 1.45% of Toll Brothers worth $170,852,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Toll Brothers during the fourth quarter worth about $128,982,000. Vanguard Group Inc. raised its holdings in shares of Toll Brothers by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 11,268,164 shares of the construction company’s stock valued at $1,158,255,000 after purchasing an additional 216,849 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Toll Brothers by 93.2% during the fourth quarter. Victory Capital Management Inc. now owns 385,024 shares of the construction company’s stock valued at $39,577,000 after buying an additional 185,746 shares during the last quarter. Bank of Nova Scotia purchased a new stake in Toll Brothers during the fourth quarter valued at approximately $18,792,000. Finally, Interval Partners LP increased its holdings in Toll Brothers by 842.9% during the first quarter. Interval Partners LP now owns 147,623 shares of the construction company’s stock valued at $19,098,000 after buying an additional 131,966 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Martin P. Connor sold 3,806 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $121.84, for a total value of $463,723.04. Following the completion of the transaction, the chief financial officer now owns 24,721 shares in the company, valued at $3,012,006.64. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Martin P. Connor sold 3,806 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $121.84, for a total value of $463,723.04. Following the completion of the transaction, the chief financial officer now owns 24,721 shares of the company’s stock, valued at $3,012,006.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Martin P. Connor sold 16,194 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $118.74, for a total transaction of $1,922,875.56. Following the completion of the transaction, the chief financial officer now directly owns 28,527 shares of the company’s stock, valued at approximately $3,387,295.98. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TOL has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday. Bank of America raised their price target on shares of Toll Brothers from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday. Argus increased their target price on shares of Toll Brothers from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Seaport Res Ptn cut shares of Toll Brothers from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 4th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $142.00 price target on shares of Toll Brothers in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Toll Brothers currently has a consensus rating of “Moderate Buy” and an average price target of $142.80.

Toll Brothers Trading Down 2.6 %

TOL traded down $3.82 on Monday, hitting $144.90. The company had a trading volume of 1,311,702 shares, compared to its average volume of 1,412,839. The company has a current ratio of 4.52, a quick ratio of 0.69 and a debt-to-equity ratio of 0.38. The firm has a market cap of $14.87 billion, a P/E ratio of 9.96, a PEG ratio of 1.05 and a beta of 1.67. The company’s fifty day moving average price is $126.00 and its 200 day moving average price is $121.59. Toll Brothers, Inc. has a 1 year low of $68.08 and a 1 year high of $149.77.

Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.31 by $0.29. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the prior year, the business earned $3.73 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts expect that Toll Brothers, Inc. will post 14.63 earnings per share for the current year.

Toll Brothers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, July 5th. Toll Brothers’s payout ratio is 6.28%.

Toll Brothers 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.