Toll Brothers, Inc. (NYSE:TOL) Sees Large Decline in Short Interest

Toll Brothers, Inc. (NYSE:TOL) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 2,240,000 shares, a decline of 13.8% from the May 31st total of 2,600,000 shares. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 2.2% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, CFO Martin P. Connor sold 16,194 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $118.74, for a total transaction of $1,922,875.56. Following the completion of the transaction, the chief financial officer now directly owns 28,527 shares in the company, valued at approximately $3,387,295.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Stephen F. East sold 1,500 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $119.32, for a total transaction of $178,980.00. Following the transaction, the director now directly owns 9,389 shares in the company, valued at $1,120,295.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin P. Connor sold 16,194 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $118.74, for a total transaction of $1,922,875.56. Following the sale, the chief financial officer now owns 28,527 shares of the company’s stock, valued at approximately $3,387,295.98. The disclosure for this sale can be found here. Insiders have sold 21,670 shares of company stock worth $2,586,315 in the last three months. 1.54% of the stock is owned by insiders.

Institutional Trading of Toll Brothers

Several institutional investors have recently made changes to their positions in TOL. Voss Capital LLC bought a new stake in shares of Toll Brothers in the 4th quarter valued at approximately $8,223,000. Ossiam lifted its holdings in shares of Toll Brothers by 122.8% during the fourth quarter. Ossiam now owns 7,547 shares of the construction company’s stock valued at $776,000 after acquiring an additional 4,159 shares during the period. Jennison Associates LLC grew its holdings in shares of Toll Brothers by 41.2% in the 4th quarter. Jennison Associates LLC now owns 834,899 shares of the construction company’s stock worth $85,819,000 after purchasing an additional 243,553 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Toll Brothers by 87.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 36,337 shares of the construction company’s stock worth $2,687,000 after purchasing an additional 16,993 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in Toll Brothers by 11.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 510,961 shares of the construction company’s stock valued at $52,522,000 after purchasing an additional 54,384 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on TOL. Argus upped their price objective on Toll Brothers from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Wedbush reiterated a “neutral” rating and set a $105.00 price target on shares of Toll Brothers in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods upped their price objective on Toll Brothers from $135.00 to $142.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. Citigroup boosted their target price on shares of Toll Brothers from $138.00 to $139.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Finally, The Goldman Sachs Group upgraded Toll Brothers from a “sell” rating to a “neutral” rating and increased their price target for the company from $112.00 to $124.00 in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Toll Brothers has an average rating of “Moderate Buy” and a consensus target price of $129.07.

Toll Brothers Stock Down 2.5 %

Shares of TOL traded down $2.85 during mid-day trading on Monday, hitting $112.33. 1,327,463 shares of the company’s stock were exchanged, compared to its average volume of 1,384,704. The company has a quick ratio of 0.69, a current ratio of 4.59 and a debt-to-equity ratio of 0.39. Toll Brothers has a twelve month low of $68.08 and a twelve month high of $135.37. The firm has a fifty day moving average of $121.22 and a two-hundred day moving average of $113.93. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 0.94 and a beta of 1.67.

Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, May 21st. The construction company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.13 by ($0.75). The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.58 billion. Toll Brothers had a return on equity of 20.91% and a net margin of 15.07%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.85 EPS. On average, sell-side analysts forecast that Toll Brothers will post 12.94 earnings per share for the current year.

Toll Brothers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, July 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.82%. Toll Brothers’s dividend payout ratio is currently 6.28%.

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.