Lecap Asset Management Ltd. Trims Stake in Toll Brothers, Inc. (NYSE:TOL)

Lecap Asset Management Ltd. lessened its position in shares of Toll Brothers, Inc. (NYSE:TOL) by 83.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,016 shares of the construction company’s stock after selling 10,213 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Toll Brothers were worth $311,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TOL. Park Avenue Securities LLC acquired a new position in shares of Toll Brothers in the 1st quarter valued at $226,000. Ballentine Partners LLC acquired a new position in Toll Brothers in the first quarter valued at $221,000. Brookstone Capital Management purchased a new stake in shares of Toll Brothers in the first quarter valued at about $224,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Toll Brothers by 0.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 308,236 shares of the construction company’s stock valued at $39,876,000 after buying an additional 2,729 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of Toll Brothers during the first quarter worth about $26,000. Institutional investors and hedge funds own 91.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TOL. Barclays boosted their price target on Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Citigroup decreased their price target on Toll Brothers from $133.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Bank of America boosted their price objective on shares of Toll Brothers from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada upped their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $142.00 target price on shares of Toll Brothers in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.07.

Toll Brothers Stock Performance

NYSE TOL opened at $150.71 on Friday. The business has a 50 day moving average price of $147.52 and a 200 day moving average price of $131.39. The company has a market capitalization of $15.47 billion, a P/E ratio of 10.29, a PEG ratio of 1.19 and a beta of 1.66. Toll Brothers, Inc. has a 1-year low of $68.08 and a 1-year high of $160.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.29. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the firm earned $3.73 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts expect that Toll Brothers, Inc. will post 13.51 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Toll Brothers’s dividend payout ratio (DPR) is 6.28%.

Insider Activity

In related news, Director John A. Mclean sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $151.10, for a total value of $151,100.00. Following the completion of the transaction, the director now owns 9,944 shares of the company’s stock, valued at approximately $1,502,538.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the firm’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 transaction of $12,917,764.16. Following the sale, the chief executive officer now owns 346,382 shares in the company, valued at approximately $51,087,881.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Mclean sold 1,000 shares of Toll Brothers stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $151.10, for a total transaction of $151,100.00. Following the completion of the sale, the director now directly owns 9,944 shares of the company’s stock, valued at $1,502,538.40. The trade was a 0.00 % decrease in their ownership of the stock. 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 three months. 1.54% of the stock is currently owned by corporate 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.