Shellback Capital LP Buys New Stake in Toll Brothers, Inc. (NYSE:TOL)

Shellback Capital LP purchased a new position in Toll Brothers, Inc. (NYSE:TOL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,000 shares of the construction company’s stock, valued at approximately $5,759,000.

A number of other hedge funds also recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new stake in shares of Toll Brothers during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Toll Brothers in the 2nd quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Toll Brothers by 114.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock valued at $31,000 after purchasing an additional 142 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Toll Brothers in the 1st quarter worth approximately $34,000. Finally, Rise Advisors LLC bought a new position in shares of Toll Brothers during the 1st quarter valued at approximately $35,000. 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 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 completion of the sale, the chief executive officer now directly owns 346,382 shares in the company, valued at approximately $51,087,881.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Toll Brothers news, CFO Martin P. Connor sold 22,673 shares of the firm’s stock in a transaction that occurred 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 directly owns 14,721 shares in the company, valued at $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 value of $12,917,764.16. Following the transaction, the chief executive officer now directly owns 346,382 shares in the company, valued at $51,087,881.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,257 shares of company stock worth $19,992,602. 1.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TOL. Royal Bank of Canada lifted their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. StockNews.com cut shares of Toll Brothers from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Oppenheimer upped their price target on shares of Toll Brothers from $157.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Barclays raised their price objective on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Finally, Seaport Res Ptn cut Toll Brothers from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 4th. Two 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.00.

Toll Brothers Stock Performance

TOL stock opened at $150.64 on Friday. Toll Brothers, Inc. has a 1-year low of $68.08 and a 1-year high of $154.62. The business has a 50-day moving average price of $139.09 and a 200 day moving average price of $127.27. The company has a market capitalization of $15.21 billion, a P/E ratio of 10.29, a PEG ratio of 1.24 and a beta of 1.67. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 EPS 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 business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the business posted $3.73 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Toll Brothers, Inc. will post 13.51 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, October 11th. This represents a $0.92 annualized dividend and a yield of 0.61%. Toll Brothers’s dividend payout ratio (DPR) is presently 6.28%.

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.