Brookfield Asset Management Inc. cut its stake in Toll Brothers Inc. (NYSE:TOL) by 38.5% during the third quarter, Holdings Channel reports. The firm owned 322,484 shares of the company’s stock after selling 201,616 shares during the period. Brookfield Asset Management Inc.’s holdings in Toll Brothers were worth $9,629,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC increased its position in shares of Toll Brothers by 87.6% in the third quarter. Neuberger Berman Group LLC now owns 3,291,501 shares of the company’s stock worth $98,284,000 after buying an additional 1,537,146 shares during the last quarter. Greenhaven Associates Inc. increased its position in shares of Toll Brothers by 59.6% in the second quarter. Greenhaven Associates Inc. now owns 2,654,933 shares of the company’s stock worth $71,444,000 after buying an additional 991,500 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Toll Brothers during the third quarter worth about $18,850,000. Honeywell International Inc. acquired a new position in shares of Toll Brothers during the second quarter worth about $16,953,000. Finally, TIAA CREF Investment Management LLC increased its position in shares of Toll Brothers by 161.3% in the third quarter. TIAA CREF Investment Management LLC now owns 733,465 shares of the company’s stock worth $21,901,000 after buying an additional 452,765 shares during the last quarter. 76.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Toll Brothers Inc. (NYSE:TOL) opened at 31.60 on Wednesday. The company’s 50 day moving average price is $31.48 and its 200 day moving average price is $29.95. The stock has a market cap of $5.13 billion, a PE ratio of 14.50 and a beta of 1.28. Toll Brothers Inc. has a 52-week low of $24.32 and a 52-week high of $33.48.
Toll Brothers (NYSE:TOL) last issued its quarterly earnings results on Tuesday, December 6th. The company reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.32. Toll Brothers had a return on equity of 9.19% and a net margin of 7.39%. The firm had revenue of $1.86 billion for the quarter. During the same period in the prior year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. On average, analysts anticipate that Toll Brothers Inc. will post $3.06 earnings per share for the current year.
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A number of research analysts have recently issued reports on the company. MKM Partners reaffirmed a “buy” rating on shares of Toll Brothers in a report on Wednesday, January 11th. Zacks Investment Research downgraded Toll Brothers from a “buy” rating to a “hold” rating in a report on Tuesday. BTIG Research assumed coverage on Toll Brothers in a report on Tuesday, February 7th. They set a “neutral” rating on the stock. Wedbush assumed coverage on Toll Brothers in a report on Monday, December 5th. They set a “neutral” rating and a $32.00 price target on the stock. Finally, Evercore ISI started coverage on Toll Brothers in a report on Monday, November 14th. They set a “hold” rating and a $29.00 price target on the stock. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.79.
In other Toll Brothers news, insider Joseph R. Sicree sold 5,986 shares of Toll Brothers stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $32.65, for a total transaction of $195,442.90. Following the completion of the sale, the insider now owns 20,699 shares of the company’s stock, valued at approximately $675,822.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward G. Boehne sold 17,000 shares of Toll Brothers stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $32.49, for a total value of $552,330.00. Following the sale, the director now directly owns 58,115 shares of the company’s stock, valued at approximately $1,888,156.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,004 shares of company stock valued at $908,349. 8.78% of the stock is currently owned by insiders.
Toll Brothers Company Profile
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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