Cartenna Capital LP Has $18.59 Million Stock Position in Toll Brothers, Inc. (NYSE:TOL)

Cartenna Capital LP cut its holdings in Toll Brothers, Inc. (NYSE:TOL - Free Report) by 31.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,594 shares of the construction company's stock after selling 67,406 shares during the quarter. Toll Brothers comprises approximately 0.9% of Cartenna Capital LP's holdings, making the stock its 27th largest position. Cartenna Capital LP owned about 0.15% of Toll Brothers worth $18,589,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Toll Brothers in the fourth quarter worth $149,924,000. FMR LLC boosted its stake in shares of Toll Brothers by 19.4% during the 4th quarter. FMR LLC now owns 2,528,853 shares of the construction company's stock worth $318,509,000 after acquiring an additional 410,394 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Toll Brothers during the 4th quarter valued at about $43,615,000. Jennison Associates LLC raised its stake in shares of Toll Brothers by 38.7% in the 4th quarter. Jennison Associates LLC now owns 1,226,271 shares of the construction company's stock valued at $154,449,000 after acquiring an additional 341,980 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Toll Brothers by 50.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 815,000 shares of the construction company's stock worth $102,649,000 after purchasing an additional 275,000 shares during the last quarter. 91.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TOL shares. Citigroup dropped their price target on shares of Toll Brothers from $155.00 to $137.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada cut their target price on shares of Toll Brothers from $142.00 to $139.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Wedbush reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Toll Brothers in a research report on Friday, February 14th. Wells Fargo & Company cut their price objective on Toll Brothers from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Keefe, Bruyette & Woods lowered their target price on Toll Brothers from $164.00 to $132.00 and set a "market perform" rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $144.79.

Toll Brothers Price Performance

TOL stock traded down $1.06 during midday trading on Friday, reaching $100.00. 972,871 shares of the company's stock traded hands, compared to its average volume of 1,545,424. The company has a quick ratio of 0.80, a current ratio of 4.65 and a debt-to-equity ratio of 0.35. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 1.02 and a beta of 1.48. The company has a 50-day simple moving average of $103.64 and a two-hundred day simple moving average of $128.27. Toll Brothers, Inc. has a 1-year low of $86.67 and a 1-year high of $169.52.

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

Toll Brothers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a dividend of $0.25 per share. This is an increase from Toll Brothers's previous quarterly dividend of $0.23. The ex-dividend date was Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 1.00%. Toll Brothers's dividend payout ratio is currently 6.88%.

Insider Activity

In related news, Director Christine Garvey sold 420 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $110.58, for a total value of $46,443.60. Following the transaction, the director now owns 13,186 shares in the company, valued at $1,458,107.88. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.54% of the company's stock.

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.