Bank of Nova Scotia Makes New Investment in Toll Brothers, Inc. (NYSE:TOL)

Bank of Nova Scotia bought a new stake in Toll Brothers, Inc. (NYSE:TOL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 139,107 shares of the construction company's stock, valued at approximately $17,521,000. Bank of Nova Scotia owned about 0.14% of Toll Brothers at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TOL. Smartleaf Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 75 shares during the last quarter. Nilsine Partners LLC lifted its stake in Toll Brothers by 0.5% during the fourth quarter. Nilsine Partners LLC now owns 19,319 shares of the construction company's stock worth $2,433,000 after purchasing an additional 88 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Toll Brothers by 15.1% during the fourth quarter. Versant Capital Management Inc now owns 700 shares of the construction company's stock worth $88,000 after buying an additional 92 shares during the period. Peapack Gladstone Financial Corp boosted its position in shares of Toll Brothers by 5.9% during the fourth quarter. Peapack Gladstone Financial Corp now owns 1,800 shares of the construction company's stock worth $227,000 after buying an additional 100 shares during the period. Finally, Principal Securities Inc. grew its stake in shares of Toll Brothers by 25.2% in the fourth quarter. Principal Securities Inc. now owns 541 shares of the construction company's stock valued at $68,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company's stock.

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Insider Buying and Selling at Toll Brothers

In other news, Director Christine Garvey sold 420 shares of Toll Brothers stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $110.58, for a total value of $46,443.60. Following the sale, the director now owns 13,186 shares of the company's stock, valued at $1,458,107.88. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on TOL shares. StockNews.com upgraded Toll Brothers from a "sell" rating to a "hold" rating in a report on Saturday, April 5th. Oppenheimer lowered their price objective on shares of Toll Brothers from $189.00 to $165.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. UBS Group cut their target price on shares of Toll Brothers from $185.00 to $183.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. The Goldman Sachs Group decreased their price target on shares of Toll Brothers from $143.00 to $125.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Finally, Royal Bank of Canada cut their price objective on Toll Brothers from $142.00 to $139.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.79.

Toll Brothers Stock Performance

NYSE TOL traded up $0.21 during trading on Tuesday, reaching $94.42. The company's stock had a trading volume of 276,810 shares, compared to its average volume of 1,917,833. The business's fifty day moving average price is $108.84 and its 200-day moving average price is $131.66. Toll Brothers, Inc. has a twelve month low of $86.67 and a twelve month high of $169.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 4.65. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 6.50, a P/E/G ratio of 1.02 and a beta of 1.48.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.91 billion. As a group, analysts anticipate that Toll Brothers, Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. This is a positive change from Toll Brothers's previous quarterly dividend of $0.23. The ex-dividend date is Friday, April 11th. Toll Brothers's dividend payout ratio (DPR) is 6.88%.

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.