Norges Bank Buys Shares of 1,190,349 Toll Brothers, Inc. (NYSE:TOL)

Norges Bank purchased a new position in shares of Toll Brothers, Inc. (NYSE:TOL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,190,349 shares of the construction company's stock, valued at approximately $149,924,000. Norges Bank owned approximately 1.19% of Toll Brothers at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TOL. Blair William & Co. IL increased its stake in shares of Toll Brothers by 53.7% during the 4th quarter. Blair William & Co. IL now owns 29,009 shares of the construction company's stock worth $3,654,000 after purchasing an additional 10,140 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new position in Toll Brothers during the fourth quarter worth approximately $1,053,000. TIAA Trust National Association raised its stake in Toll Brothers by 1.0% in the fourth quarter. TIAA Trust National Association now owns 54,406 shares of the construction company's stock valued at $6,852,000 after buying an additional 519 shares during the period. Jackson Hill Advisors LLC lifted its position in shares of Toll Brothers by 9.8% in the fourth quarter. Jackson Hill Advisors LLC now owns 95,000 shares of the construction company's stock valued at $11,965,000 after buying an additional 8,500 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Toll Brothers during the 4th quarter worth approximately $3,111,000. Institutional investors and hedge funds own 91.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TOL shares. Evercore ISI increased their price target on Toll Brothers from $181.00 to $184.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. UBS Group cut 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 note on Thursday, February 20th. Barclays decreased their price target on shares of Toll Brothers from $115.00 to $101.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 25th. StockNews.com downgraded shares of Toll Brothers from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Finally, Keefe, Bruyette & Woods decreased their target price on Toll Brothers from $164.00 to $132.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $147.57.

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Toll Brothers Price Performance

TOL stock traded down $8.40 during midday trading on Thursday, reaching $98.51. The company had a trading volume of 2,217,966 shares, compared to its average volume of 1,799,515. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 6.78, a price-to-earnings-growth ratio of 1.02 and a beta of 1.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.65 and a quick ratio of 0.80. Toll Brothers, Inc. has a 1-year low of $96.75 and a 1-year high of $169.52. The stock has a 50 day moving average price of $117.11 and a 200-day moving average price of $135.64.

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 for the quarter, missing analysts' consensus estimates of $1.99 by ($0.24). The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.91 billion. Toll Brothers had a return on equity of 18.32% and a net margin of 14.03%. Equities research analysts expect that Toll Brothers, Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, April 11th. This is an increase from Toll Brothers's previous quarterly dividend of $0.23. Toll Brothers's dividend payout ratio (DPR) is currently 6.88%.

Insider Activity

In related news, Director Christine Garvey sold 420 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $110.58, for a total transaction of $46,443.60. Following the completion of the sale, the director now directly owns 13,186 shares in the company, valued at $1,458,107.88. This represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.54% of the company's stock.

About Toll Brothers

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.