Toll Brothers Inc. (TOL) Stake Increased by BlackRock Inc.

BlackRock Inc. increased its position in shares of Toll Brothers Inc. (NYSE:TOL) by 7,882.3% during the first quarter, Holdings Channel reports. The fund owned 16,520,268 shares of the construction company’s stock after buying an additional 16,313,307 shares during the period. BlackRock Inc. owned approximately 0.10% of Toll Brothers worth $596,546,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. New York State Teachers Retirement System increased its stake in shares of Toll Brothers by 4.5% in the first quarter. New York State Teachers Retirement System now owns 303,567 shares of the construction company’s stock worth $10,962,000 after buying an additional 13,200 shares during the last quarter. Morgan Stanley increased its stake in shares of Toll Brothers by 33.9% in the first quarter. Morgan Stanley now owns 701,235 shares of the construction company’s stock worth $25,322,000 after buying an additional 177,696 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Toll Brothers by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,261,963 shares of the construction company’s stock worth $190,012,000 after buying an additional 396,190 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Toll Brothers by 5.8% in the first quarter. Geode Capital Management LLC now owns 1,142,376 shares of the construction company’s stock worth $41,236,000 after buying an additional 62,590 shares during the last quarter. Finally, Capital Growth Management LP increased its stake in shares of Toll Brothers by 110.7% in the first quarter. Capital Growth Management LP now owns 2,950,000 shares of the construction company’s stock worth $106,524,000 after buying an additional 1,550,000 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Toll Brothers (NYSE:TOL)

Shares of Toll Brothers Inc. (NYSE:TOL) traded down 0.23% on Friday, hitting $38.47. The stock had a trading volume of 1,104,193 shares. The firm has a market cap of $6.29 billion, a PE ratio of 15.86 and a beta of 1.56. The firm’s 50-day moving average price is $37.39 and its 200 day moving average price is $34.34. Toll Brothers Inc. has a 52-week low of $25.29 and a 52-week high of $39.40.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, May 23rd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Toll Brothers had a return on equity of 9.71% and a net margin of 7.67%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. On average, equities research analysts predict that Toll Brothers Inc. will post $3.15 EPS for the current year.

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A number of brokerages recently weighed in on TOL. BidaskClub raised Toll Brothers from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup Inc. raised their price objective on Toll Brothers from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Bank of America Corporation reaffirmed a “buy” rating and set a $43.00 price objective (up previously from $40.00) on shares of Toll Brothers in a research report on Wednesday, May 24th. Mizuho reaffirmed a “buy” rating and set a $44.00 price objective on shares of Toll Brothers in a research report on Wednesday, May 24th. Finally, Buckingham Research downgraded Toll Brothers from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 24th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $38.17.

In related news, Director Stephen A. Novick sold 85,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $39.08, for a total value of $3,321,800.00. Following the completion of the sale, the director now directly owns 24,417 shares of the company’s stock, valued at approximately $954,216.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Richard T. Hartman sold 7,836 shares of the company’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $36.20, for a total value of $283,663.20. Following the completion of the sale, the president now directly owns 39,606 shares of the company’s stock, valued at $1,433,737.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 407,172 shares of company stock valued at $15,546,645. Insiders own 8.78% of the company’s stock.

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.

Want to see what other hedge funds are holding TOL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toll Brothers Inc. (NYSE:TOL).

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