Toll Brothers Target of Unusually High Options Trading (TOL)
Toll Brothers Inc (NYSE:TOL) was the target of some unusual options trading on Tuesday. Investors purchased 8,307 put options on the company. This is an increase of approximately 876% compared to the average volume of 851 put options.
In related news, Director Carl B. Marbach sold 12,900 shares of Toll Brothers stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $39.97, for a total value of $515,613.00. Following the sale, the director now owns 114,149 shares of the company’s stock, valued at approximately $4,562,535.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Richard T. Hartman sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $47.00, for a total value of $940,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 64,687 shares of company stock worth $2,840,390. 8.78% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lyell Wealth Management LP boosted its stake in Toll Brothers by 3.0% in the 3rd quarter. Lyell Wealth Management LP now owns 89,250 shares of the construction company’s stock valued at $3,701,000 after purchasing an additional 2,625 shares during the period. Prudential Financial Inc. boosted its stake in Toll Brothers by 42.9% in the 2nd quarter. Prudential Financial Inc. now owns 1,433,541 shares of the construction company’s stock valued at $56,639,000 after purchasing an additional 430,220 shares during the period. Russell Investments Group Ltd. boosted its stake in Toll Brothers by 6.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 152,760 shares of the construction company’s stock valued at $6,040,000 after purchasing an additional 9,723 shares during the period. Principal Financial Group Inc. boosted its stake in Toll Brothers by 6.1% in the 2nd quarter. Principal Financial Group Inc. now owns 637,062 shares of the construction company’s stock valued at $25,170,000 after purchasing an additional 36,729 shares during the period. Finally, Andra AP fonden boosted its stake in Toll Brothers by 11.6% in the 2nd quarter. Andra AP fonden now owns 71,300 shares of the construction company’s stock valued at $2,817,000 after purchasing an additional 7,400 shares during the period. Institutional investors and hedge funds own 82.52% of the company’s stock.
Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, December 5th. The construction company reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.02). The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.09 billion. Toll Brothers had a net margin of 9.21% and a return on equity of 12.07%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. analysts anticipate that Toll Brothers will post 3.62 earnings per share for the current fiscal year.
Several research analysts have weighed in on TOL shares. Wedbush reaffirmed a “neutral” rating and set a $37.00 price target (down previously from $40.00) on shares of Toll Brothers in a research report on Tuesday, August 22nd. Zacks Investment Research lowered Toll Brothers from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.00 price target on shares of Toll Brothers in a research report on Thursday, August 24th. KeyCorp reaffirmed a “hold” rating on shares of Toll Brothers in a research report on Friday, August 25th. Finally, BidaskClub lowered Toll Brothers from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.40.
Toll Brothers Company Profile
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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