Hsbc Holdings PLC Reduces Position in Toll Brothers, Inc. (NYSE:TOL)

Hsbc Holdings PLC lowered its holdings in Toll Brothers, Inc. (NYSE:TOL) by 53.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,685 shares of the construction company’s stock after selling 79,878 shares during the period. Hsbc Holdings PLC owned about 0.07% of Toll Brothers worth $7,922,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position 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 worth $1,158,255,000 after buying an additional 216,849 shares in the last quarter. Bank of Nova Scotia bought a new stake in shares of Toll Brothers in the 4th quarter worth about $18,792,000. Anchor Capital Advisors LLC acquired a new stake in shares of Toll Brothers in the 2nd quarter valued at about $17,740,000. Marsico Capital Management LLC grew its stake in Toll Brothers by 24.5% in the second quarter. Marsico Capital Management LLC now owns 755,190 shares of the construction company’s stock worth $86,983,000 after purchasing an additional 148,562 shares in the last quarter. Finally, Interval Partners LP grew its stake in Toll Brothers by 842.9% in the first quarter. Interval Partners LP now owns 147,623 shares of the construction company’s stock worth $19,098,000 after purchasing an additional 131,966 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Douglas C. Jr. Yearley sold 25,000 shares of Toll Brothers stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $153.05, for a total transaction of $3,826,250.00. Following the transaction, the chief executive officer now directly owns 296,382 shares in the company, valued at approximately $45,361,265.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Toll Brothers news, CFO Martin P. Connor sold 22,673 shares of the company’s stock in a transaction 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 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 through this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $153.05, for a total value of $3,826,250.00. Following the sale, the chief executive officer now directly owns 296,382 shares of the company’s stock, valued at $45,361,265.10. The disclosure for this sale can be found here. Insiders sold 135,257 shares of company stock worth $19,992,602 over the last ninety days. Company insiders own 1.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on TOL shares. Evercore ISI increased their target price on Toll Brothers from $177.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. The Goldman Sachs Group upgraded shares of Toll Brothers from a “sell” rating to a “neutral” rating and boosted their target price for the company from $112.00 to $124.00 in a research note on Monday, June 17th. Wedbush raised their price target on shares of Toll Brothers from $120.00 to $148.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Wells Fargo & Company boosted their price objective on shares of Toll Brothers from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Seaport Res Ptn downgraded 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Toll Brothers Trading Up 2.0 %

NYSE:TOL opened at $153.50 on Tuesday. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.23 and a beta of 1.67. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52. Toll Brothers, Inc. has a 1 year low of $68.08 and a 1 year high of $154.62. The business has a fifty day moving average of $138.23 and a 200-day moving average of $126.87.

Toll Brothers (NYSE:TOL) last released its 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. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. Toll Brothers’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $3.73 EPS. Equities analysts predict that Toll Brothers, Inc. will post 13.31 earnings per share for the current year.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 annualized dividend and a yield of 0.60%. Toll Brothers’s payout ratio 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.