CCM Investment Group LLC Buys Shares of 8,460 Toll Brothers Inc. (NYSE:TOL)

CCM Investment Group LLC bought a new stake in shares of Toll Brothers Inc. (NYSE:TOL) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 8,460 shares of the construction company’s stock, valued at approximately $889,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. grew its position in shares of Toll Brothers by 24,475.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,114,728 shares of the construction company’s stock worth $140,400,000 after acquiring an additional 1,110,192 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of Toll Brothers during the fourth quarter worth about $106,428,000. Victory Capital Management Inc. grew its position in shares of Toll Brothers by 149.5% during the first quarter. Victory Capital Management Inc. now owns 974,587 shares of the construction company’s stock worth $102,907,000 after acquiring an additional 583,940 shares during the last quarter. Junto Capital Management LP bought a new position in shares of Toll Brothers during the fourth quarter worth about $54,929,000. Finally, Raymond James Financial Inc. bought a new position in shares of Toll Brothers during the fourth quarter worth about $43,615,000. Institutional investors own 91.76% of the company’s stock.

Toll Brothers Price Performance

Shares of NYSE TOL opened at $125.83 on Monday. Toll Brothers Inc. has a twelve month low of $86.67 and a twelve month high of $169.52. The company has a current ratio of 4.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.31 and a beta of 1.33. The firm has a 50-day moving average of $116.05 and a two-hundred day moving average of $111.47.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings results on Tuesday, May 20th. The construction company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.64. Toll Brothers had a net margin of 12.95% and a return on equity of 17.87%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned $3.38 EPS. Toll Brothers’s revenue was down 3.5% on a year-over-year basis. As a group, analysts expect that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, July 11th. Toll Brothers’s dividend payout ratio is presently 7.42%.

Analyst Ratings Changes

Several equities analysts have recently commented on TOL shares. Evercore ISI restated an “outperform” rating and set a $169.00 price target (up previously from $167.00) on shares of Toll Brothers in a research report on Thursday, May 22nd. Raymond James Financial restated a “strong-buy” rating and set a $130.00 price target (down previously from $145.00) on shares of Toll Brothers in a research report on Friday, May 23rd. Keefe, Bruyette & Woods lowered their price target on shares of Toll Brothers from $132.00 to $120.00 and set a “market perform” rating for the company in a research report on Tuesday, May 20th. Oppenheimer reduced their price objective on shares of Toll Brothers from $165.00 to $155.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Finally, Wells Fargo & Company upped their price objective on shares of Toll Brothers from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.23.

Insider Buying and Selling at Toll Brothers

In other Toll Brothers news, Director Stephen F. East sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $115.33, for a total value of $288,325.00. Following the completion of the sale, the director directly owned 12,787 shares of the company’s stock, valued at approximately $1,474,724.71. This represents a 16.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine Garvey sold 770 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $119.82, for a total value of $92,261.40. Following the sale, the director owned 11,590 shares in the company, valued at approximately $1,388,713.80. The trade was a 6.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,770 shares of company stock valued at $440,586. 1.54% of the stock is owned by insiders.

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.