Huntington National Bank Increases Stake in Toll Brothers, Inc. (NYSE:TOL)

Huntington National Bank boosted its stake in Toll Brothers, Inc. (NYSE:TOL) by 46.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 712 shares of the construction company’s stock after purchasing an additional 227 shares during the quarter. Huntington National Bank’s holdings in Toll Brothers were worth $110,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV grew its stake in shares of Toll Brothers by 18.2% during the 3rd quarter. KBC Group NV now owns 2,827 shares of the construction company’s stock valued at $437,000 after buying an additional 436 shares during the period. Victory Capital Management Inc. increased its stake in Toll Brothers by 18.8% during the third quarter. Victory Capital Management Inc. now owns 493,216 shares of the construction company’s stock worth $76,197,000 after acquiring an additional 78,068 shares during the last quarter. First Heartland Consultants Inc. lifted its stake in shares of Toll Brothers by 12.9% in the 3rd quarter. First Heartland Consultants Inc. now owns 2,159 shares of the construction company’s stock valued at $334,000 after purchasing an additional 246 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of Toll Brothers by 11.6% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,078 shares of the construction company’s stock worth $476,000 after purchasing an additional 320 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Toll Brothers by 59.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,950 shares of the construction company’s stock worth $1,074,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

Insider Buying and Selling

In related news, CFO Martin P. Connor sold 22,673 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 14,721 shares of the company’s stock, valued at approximately $2,109,224.88. This trade represents a 60.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 owns 346,382 shares of the company’s stock, valued at $51,087,881.18. This represents a 20.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,257 shares of company stock worth $32,602,152 over the last ninety days. 1.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TOL has been the subject of several research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $142.00 price objective on shares of Toll Brothers in a research note on Wednesday, August 21st. Bank of America raised their price objective on Toll Brothers from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada upped their target price on Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Oppenheimer raised their target price on Toll Brothers from $168.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Seaport Res Ptn cut Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toll Brothers currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

Toll Brothers Stock Down 0.7 %

Shares of NYSE:TOL opened at $152.67 on Monday. Toll Brothers, Inc. has a 12-month low of $84.40 and a 12-month high of $160.12. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38. The firm has a market cap of $15.42 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.14 and a beta of 1.68. The company has a fifty day simple moving average of $151.01 and a 200 day simple moving average of $135.18.

Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.29. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.73 EPS. On average, equities research analysts anticipate that Toll Brothers, Inc. will post 13.53 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, October 11th. Toll Brothers’s dividend payout ratio is currently 6.34%.

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.