Retirement Systems of Alabama Trims Stake in Toll Brothers Inc. (NYSE:TOL)

Retirement Systems of Alabama trimmed its stake in Toll Brothers Inc. (NYSE:TOL) by 3.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,081 shares of the construction company’s stock after selling 7,052 shares during the period. Retirement Systems of Alabama owned 0.23% of Toll Brothers worth $23,977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in shares of Toll Brothers in the 4th quarter worth $27,000. Promus Capital LLC purchased a new stake in shares of Toll Brothers in the 4th quarter worth $29,000. Sound Income Strategies LLC increased its stake in shares of Toll Brothers by 84.2% in the 1st quarter. Sound Income Strategies LLC now owns 245 shares of the construction company’s stock worth $26,000 after purchasing an additional 112 shares in the last quarter. IAG Wealth Partners LLC increased its stake in Toll Brothers by 1,034.8% in the 4th quarter. IAG Wealth Partners LLC now owns 261 shares of the construction company’s stock worth $33,000 after buying an additional 238 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Toll Brothers by 34.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 293 shares of the construction company’s stock worth $37,000 after buying an additional 75 shares in the last quarter. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Toll Brothers Stock Up 2.9%

Shares of NYSE:TOL opened at $108.54 on Friday. The company has a current ratio of 4.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.35. Toll Brothers Inc. has a 12 month low of $86.67 and a 12 month high of $169.52. The company has a 50-day moving average price of $103.58 and a 200 day moving average price of $114.98. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.10 and a beta of 1.35.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, May 20th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.64. Toll Brothers had a net margin of 12.95% and a return on equity of 17.87%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the firm earned $3.38 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts predict that Toll Brothers Inc. will post 13.83 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 25th. Investors of record on Friday, July 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, July 11th. Toll Brothers’s payout ratio is 7.42%.

Analyst Ratings Changes

TOL has been the subject of a number of analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $169.00 price target (up previously from $167.00) on shares of Toll Brothers in a research note on Thursday, May 22nd. Wells Fargo & Company cut their price target on Toll Brothers from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, June 3rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $130.00 price target (down previously from $145.00) on shares of Toll Brothers in a research note on Friday, May 23rd. UBS Group reiterated a “buy” rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Finally, Royal Bank Of Canada cut their price target on Toll Brothers from $139.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.08.

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.