Van ECK Associates Corp Grows Stake in Toll Brothers, Inc. (NYSE:TOL)

Van ECK Associates Corp increased its stake in Toll Brothers, Inc. (NYSE:TOL) by 36.5% in the 1st quarter, HoldingsChannel reports. The fund owned 40,465 shares of the construction company’s stock after acquiring an additional 10,823 shares during the period. Van ECK Associates Corp’s holdings in Toll Brothers were worth $5,235,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TOL. Register Financial Advisors LLC bought a new stake in Toll Brothers in the first quarter worth about $26,000. Contravisory Investment Management Inc. bought a new position in Toll Brothers in the first quarter worth approximately $34,000. Rise Advisors LLC purchased a new position in Toll Brothers during the 1st quarter worth $35,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Toll Brothers during the 4th quarter valued at $36,000. Finally, Baker Avenue Asset Management LP lifted its holdings in shares of Toll Brothers by 23.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 677 shares of the construction company’s stock worth $50,000 after buying an additional 127 shares during the period. Institutional investors own 91.76% of the company’s stock.

Toll Brothers Stock Performance

TOL traded down $2.74 on Friday, reaching $109.02. 672,462 shares of the stock were exchanged, compared to its average volume of 1,377,526. The firm has a market capitalization of $11.19 billion, a PE ratio of 7.65, a PEG ratio of 0.91 and a beta of 1.67. The company’s 50-day moving average price is $120.78 and its 200 day moving average price is $114.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.59 and a quick ratio of 0.69. Toll Brothers, Inc. has a fifty-two week low of $68.08 and a fifty-two week high of $135.37.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Tuesday, May 21st. The construction company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.13 by ($0.75). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.58 billion. Toll Brothers had a net margin of 15.07% and a return on equity of 20.91%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm earned $2.85 EPS. As a group, sell-side analysts forecast that Toll Brothers, Inc. will post 12.94 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.84%. Toll Brothers’s payout ratio is 6.28%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Argus lifted their price objective on Toll Brothers from $135.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Raymond James reaffirmed a “strong-buy” rating and issued a $145.00 price target (up previously from $135.00) on shares of Toll Brothers in a research report on Thursday, May 23rd. Oppenheimer boosted their price objective on shares of Toll Brothers from $141.00 to $157.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Royal Bank of Canada increased their target price on Toll Brothers from $122.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, UBS Group lifted their price target on Toll Brothers from $140.00 to $154.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.13.

Insider Buying and Selling

In related news, CFO Martin P. Connor sold 3,806 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,012,006.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Stephen F. East sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $119.32, for a total value of $178,980.00. Following the completion of the sale, the director now directly owns 9,389 shares in the company, valued at $1,120,295.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin P. Connor sold 3,806 shares of the company’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 sale, the chief financial officer now owns 24,721 shares of the company’s stock, valued at $3,012,006.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,670 shares of company stock valued at $2,586,315. 1.54% of the stock is owned by company insiders.

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.