Condor Capital Management Acquires 1,693 Shares of Toll Brothers Inc (TOL)

Condor Capital Management raised its position in shares of Toll Brothers Inc (NYSE:TOL) by 3.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,241 shares of the construction company’s stock after purchasing an additional 1,693 shares during the quarter. Condor Capital Management’s holdings in Toll Brothers were worth $1,659,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TOL. Bridgewater Associates LP increased its stake in Toll Brothers by 349.6% during the 2nd quarter. Bridgewater Associates LP now owns 1,027,048 shares of the construction company’s stock valued at $37,991,000 after purchasing an additional 798,617 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Toll Brothers by 534.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 712,250 shares of the construction company’s stock valued at $26,346,000 after purchasing an additional 600,000 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Toll Brothers by 2,332.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 327,366 shares of the construction company’s stock valued at $582,000 after purchasing an additional 313,908 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Toll Brothers by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,490,892 shares of the construction company’s stock valued at $129,127,000 after purchasing an additional 309,953 shares in the last quarter. Finally, Gateway Investment Advisers LLC bought a new stake in Toll Brothers during the 2nd quarter valued at about $11,028,000. Institutional investors and hedge funds own 81.96% of the company’s stock.

Shares of TOL stock opened at $32.74 on Friday. Toll Brothers Inc has a 52 week low of $28.68 and a 52 week high of $52.73. The company has a market capitalization of $4.82 billion, a PE ratio of 10.33, a P/E/G ratio of 0.40 and a beta of 1.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 6.98 and a quick ratio of 0.88.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, August 21st. The construction company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.23. Toll Brothers had a net margin of 9.37% and a return on equity of 13.49%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. Equities research analysts anticipate that Toll Brothers Inc will post 4.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were paid a $0.11 dividend. The ex-dividend date was Thursday, October 11th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.34%. Toll Brothers’s dividend payout ratio is presently 13.88%.

TOL has been the subject of a number of analyst reports. Bank of America set a $47.00 price objective on shares of Toll Brothers and gave the company a “buy” rating in a research note on Thursday, October 11th. Mizuho set a $46.00 price objective on shares of Toll Brothers and gave the company a “buy” rating in a research note on Friday, August 31st. Raymond James restated a “buy” rating and set a $44.00 price objective (down from $50.00) on shares of Toll Brothers in a research note on Thursday, August 23rd. Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, July 24th. Finally, ValuEngine upgraded shares of Toll Brothers from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $47.56.

In other news, Director Edward G. Boehne sold 17,000 shares of Toll Brothers stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $37.64, for a total value of $639,880.00. Following the completion of the sale, the director now directly owns 99,598 shares in the company, valued at $3,748,868.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.78% of the company’s stock.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates through two segments, Traditional Home Building and City Living. It also builds and sells homes in urban infill markets through Toll Brothers City Living.

Further Reading: Asset Allocation

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

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