Harvest Fund Management Co. Ltd decreased its stake in shares of Toll Brothers, Inc. (NYSE:TOL - Free Report) by 69.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,983 shares of the construction company's stock after selling 4,566 shares during the period. Harvest Fund Management Co. Ltd's holdings in Toll Brothers were worth $250,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in TOL. FMR LLC lifted its holdings in shares of Toll Brothers by 97.7% in the third quarter. FMR LLC now owns 2,118,459 shares of the construction company's stock worth $327,281,000 after buying an additional 1,046,758 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Toll Brothers during the 3rd quarter worth approximately $111,562,000. Raymond James Financial Inc. purchased a new stake in Toll Brothers in the 4th quarter worth approximately $43,615,000. Jennison Associates LLC boosted its holdings in 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 purchasing an additional 341,980 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Toll Brothers by 228.1% during the 4th quarter. Empowered Funds LLC now owns 232,180 shares of the construction company's stock valued at $29,243,000 after purchasing an additional 161,408 shares in the last quarter. Institutional investors own 91.76% of the company's stock.
Insider Buying and Selling
In related news, Director Christine Garvey sold 204 shares of Toll Brothers stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $125.78, for a total transaction of $25,659.12. Following the completion of the transaction, the director now directly owns 7,728 shares of the company's stock, valued at $972,027.84. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Martin P. Connor sold 11,140 shares of the company's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $126.07, for a total transaction of $1,404,419.80. Following the completion of the sale, the chief financial officer now owns 20,618 shares in the company, valued at approximately $2,599,311.26. This trade represents a 35.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,764 shares of company stock valued at $1,476,523 over the last ninety days. Company insiders own 1.54% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. StockNews.com cut Toll Brothers from a "hold" rating to a "sell" rating in a report on Wednesday, March 19th. UBS Group dropped their target price on shares of Toll Brothers from $185.00 to $183.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Bank of America decreased their price target on shares of Toll Brothers from $156.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Seaport Res Ptn raised shares of Toll Brothers from a "strong sell" rating to a "hold" rating in a report on Monday, January 27th. Finally, Barclays cut their target price on shares of Toll Brothers from $115.00 to $101.00 and set an "underweight" rating for the company in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $147.57.
Check Out Our Latest Research Report on TOL
Toll Brothers Trading Up 1.3 %
Shares of Toll Brothers stock traded up $1.39 during midday trading on Tuesday, reaching $111.61. 475,044 shares of the company's stock traded hands, compared to its average volume of 1,429,432. The stock has a 50 day moving average of $120.90 and a 200-day moving average of $137.30. Toll Brothers, Inc. has a 12 month low of $102.49 and a 12 month high of $169.52. The company has a market cap of $11.15 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 4.65.
Toll Brothers (NYSE:TOL - Get Free Report) last posted its earnings results 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 return on equity of 18.32% and a net margin of 14.03%. The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.91 billion. As a group, equities analysts expect that Toll Brothers, Inc. will post 13.83 EPS for the current fiscal year.
Toll Brothers Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. This is a positive change from Toll Brothers's previous quarterly dividend of $0.23. Toll Brothers's dividend payout ratio is currently 6.88%.
About Toll Brothers
(
Free Report)
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.
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