Toll Brothers Inc (NYSE:TOL) Short Interest Update

Toll Brothers Inc (NYSE:TOL) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 7,400,000 shares, a decrease of 6.7% from the June 15th total of 7,930,000 shares. Based on an average trading volume of 2,980,000 shares, the short-interest ratio is currently 2.5 days. Approximately 6.5% of the company’s stock are sold short.

In other news, CEO Douglas C. Jr. Yearley sold 120,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $34.31, for a total value of $4,117,200.00. Corporate insiders own 10.94% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Vigilant Capital Management LLC purchased a new stake in Toll Brothers during the second quarter valued at approximately $178,000. Envestnet Asset Management Inc. boosted its position in shares of Toll Brothers by 3.4% in the second quarter. Envestnet Asset Management Inc. now owns 23,448 shares of the construction company’s stock worth $764,000 after purchasing an additional 769 shares during the period. Royal Bank of Canada boosted its position in shares of Toll Brothers by 41.6% in the first quarter. Royal Bank of Canada now owns 51,047 shares of the construction company’s stock worth $982,000 after purchasing an additional 14,987 shares during the period. New Mexico Educational Retirement Board boosted its position in shares of Toll Brothers by 23.7% in the first quarter. New Mexico Educational Retirement Board now owns 28,700 shares of the construction company’s stock worth $552,000 after purchasing an additional 5,500 shares during the period. Finally, Guggenheim Capital LLC boosted its position in shares of Toll Brothers by 29.5% in the first quarter. Guggenheim Capital LLC now owns 45,396 shares of the construction company’s stock worth $874,000 after purchasing an additional 10,332 shares during the period. 81.84% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on the company. Wedbush cut their target price on Toll Brothers from $48.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. ValuEngine downgraded Toll Brothers from a “hold” rating to a “sell” rating in a report on Tuesday, March 17th. Royal Bank of Canada boosted their target price on Toll Brothers from $31.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. raised their price target on shares of Toll Brothers from $16.50 to $24.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods raised shares of Toll Brothers from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $39.00 to $40.00 in a report on Monday, June 29th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.53.

Shares of TOL stock opened at $33.60 on Friday. Toll Brothers has a 12 month low of $13.28 and a 12 month high of $49.31. The stock has a market cap of $4.25 billion, a P/E ratio of 9.85 and a beta of 1.69. The company has a current ratio of 6.84, a quick ratio of 1.21 and a debt-to-equity ratio of 0.94. The company has a 50 day simple moving average of $32.28 and a two-hundred day simple moving average of $33.18.

Toll Brothers (NYSE:TOL) last announced its earnings results on Wednesday, May 27th. The construction company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.14. Toll Brothers had a net margin of 6.85% and a return on equity of 9.91%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the company earned $0.87 earnings per share. The firm’s revenue was down 9.7% on a year-over-year basis. As a group, equities analysts forecast that Toll Brothers will post 2.7 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, July 9th. This represents a $0.44 dividend on an annualized basis and a yield of 1.31%. Toll Brothers’s dividend payout ratio is currently 10.92%.

About Toll Brothers

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

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