Capital Growth Management Lp Lowers stake in Toll Brothers Inc (TOL)

Toll Brothers Inc (TOL) : Capital Growth Management Lp reduced its stake in Toll Brothers Inc by 13.78% during the most recent quarter end. The investment management company now holds a total of 5,380,000 shares of Toll Brothers Inc which is valued at $142.9 Million after selling 860,000 shares in Toll Brothers Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Toll Brothers Inc makes up approximately 6.31% of Capital Growth Management Lp’s portfolio.

Other Hedge Funds, Including , Quadrature Capital Ltd boosted its stake in TOL in the latest quarter, The investment management firm added 7,235 additional shares and now holds a total of 21,673 shares of Toll Brothers Inc which is valued at $575,635. Toll Brothers Inc makes up approx 0.08% of Quadrature Capital Ltd’s portfolio. Rafferty Asset Management added TOL to its portfolio by purchasing 16,750 company shares during the most recent quarter which is valued at $444,880. Toll Brothers Inc makes up approx 0.02% of Rafferty Asset Management’s portfolio.Victory Capital Management Inc boosted its stake in TOL in the latest quarter, The investment management firm added 37,920 additional shares and now holds a total of 2,845,378 shares of Toll Brothers Inc which is valued at $75.6 Million. Toll Brothers Inc makes up approx 0.32% of Victory Capital Management Inc’s portfolio.Mutual Of America Capital Management reduced its stake in TOL by selling 1,623 shares or 1.49% in the most recent quarter. The Hedge Fund company now holds 107,428 shares of TOL which is valued at $2.9 Million. Toll Brothers Inc makes up approx 0.06% of Mutual Of America Capital Management’s portfolio. Evercore Wealth Management added TOL to its portfolio by purchasing 723 company shares during the most recent quarter which is valued at $19,138.

Toll Brothers Inc closed down -0.37 points or -1.26% at $29.09 with 38,79,264 shares getting traded on Wednesday. Post opening the session at $29.78, the shares hit an intraday low of $29.015 and an intraday high of $29.84 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Toll Brothers Inc reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 24, 2016. Analyst had a consensus of $0.46. The company had revenue of $1115.60 million for the quarter, compared to analysts expectations of $1039.50 million. The company’s revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Toll Brothers Inc. Shares were Reiterated by RBC Capital Mkts on Feb 25, 2016 to “Sector Perform” and Lowered the Price Target to $ 29 from a previous price target of $35 .Shares were Reiterated by MKM Partners on Feb 24, 2016 to “Buy” and Lowered the Price Target to $ 38 from a previous price target of $45 .Shares were Reiterated by RBC Capital Mkts on Feb 18, 2016 to “Sector Perform” and Lowered the Price Target to $ 35 from a previous price target of $37 .

Toll Brothers Inc. is a property development company. The Company is engaged in designing building marketing and arranging finance for detached and attached homes in luxury residential communities. The Company caters to move-up empty-nester active-adult age-qualified and second-home buyers in the United States. The Company also builds and sells homes in urban infill markets through Toll City Living community. The Company operates on own land development architectural engineering mortgage title landscaping security monitoring lumber distribution house component assembly and manufacturing operations. The Company also develops owns and operates golf courses and country clubs which are associated with planned communities.

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