OLD National Bancorp IN Buys Shares of 30,879 Toll Brothers Inc. $TOL

OLD National Bancorp IN bought a new position in shares of Toll Brothers Inc. (NYSE:TOL) in the 2nd quarter, HoldingsChannel reports. The fund bought 30,879 shares of the construction company’s stock, valued at approximately $3,524,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TOL. Merit Financial Group LLC increased its holdings in Toll Brothers by 49.6% in the 1st quarter. Merit Financial Group LLC now owns 8,951 shares of the construction company’s stock valued at $945,000 after purchasing an additional 2,969 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Toll Brothers by 239.2% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 943 shares of the construction company’s stock valued at $100,000 after buying an additional 665 shares in the last quarter. Vest Financial LLC raised its holdings in shares of Toll Brothers by 26.4% in the 1st quarter. Vest Financial LLC now owns 24,708 shares of the construction company’s stock valued at $2,609,000 after buying an additional 5,158 shares during the period. Sovereign Financial Group Inc. raised its holdings in shares of Toll Brothers by 20.6% in the 1st quarter. Sovereign Financial Group Inc. now owns 2,770 shares of the construction company’s stock valued at $292,000 after buying an additional 474 shares during the period. Finally, UMB Bank n.a. lifted its stake in Toll Brothers by 83.0% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the construction company’s stock worth $100,000 after acquiring an additional 431 shares in the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Toll Brothers

In other Toll Brothers news, Director Christine Garvey sold 770 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $119.82, for a total transaction of $92,261.40. Following the sale, the director owned 11,590 shares of the company’s stock, valued at approximately $1,388,713.80. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $138.26, for a total transaction of $3,456,500.00. Following the completion of the transaction, the chief executive officer owned 286,117 shares of the company’s stock, valued at approximately $39,558,536.42. The trade was a 8.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,413 shares of company stock worth $5,746,216. 1.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Toll Brothers from $143.00 to $145.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Royal Bank Of Canada lifted their price objective on shares of Toll Brothers from $133.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Seaport Res Ptn upgraded shares of Toll Brothers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 23rd. Raymond James Financial restated a “strong-buy” rating and issued a $160.00 price target (up previously from $130.00) on shares of Toll Brothers in a research note on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Toll Brothers in a research report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $150.43.

Toll Brothers Trading Up 2.3%

Shares of NYSE:TOL opened at $142.80 on Monday. Toll Brothers Inc. has a 52 week low of $86.67 and a 52 week high of $169.52. The company’s 50 day moving average is $135.25 and its two-hundred day moving average is $116.89. The company has a market cap of $13.76 billion, a PE ratio of 10.49, a P/E/G ratio of 1.69 and a beta of 1.40. The company has a current ratio of 4.38, a quick ratio of 0.51 and a debt-to-equity ratio of 0.36.

Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.59 by $0.14. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 EPS. Equities analysts predict that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a $0.25 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. Toll Brothers’s dividend payout ratio is presently 7.35%.

Toll Brothers Company Profile

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.