Harvest Fund Management Co. Ltd Raises Position in Toll Brothers, Inc. (NYSE:TOL)

Harvest Fund Management Co. Ltd grew its stake in shares of Toll Brothers, Inc. (NYSE:TOL - Free Report) by 86.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,549 shares of the construction company's stock after acquiring an additional 3,035 shares during the period. Harvest Fund Management Co. Ltd's holdings in Toll Brothers were worth $1,011,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TOL. Westfield Capital Management Co. LP bought a new position in shares of Toll Brothers in the third quarter worth $111,562,000. Pacer Advisors Inc. increased its holdings in shares of Toll Brothers by 34.8% in the second quarter. Pacer Advisors Inc. now owns 2,095,673 shares of the construction company's stock worth $241,380,000 after purchasing an additional 541,140 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Toll Brothers by 81.0% in the second quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company's stock worth $110,993,000 after purchasing an additional 431,160 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Toll Brothers in the third quarter worth $38,985,000. Finally, Jennison Associates LLC increased its holdings in shares of Toll Brothers by 35.1% in the third quarter. Jennison Associates LLC now owns 884,291 shares of the construction company's stock worth $136,614,000 after purchasing an additional 229,603 shares during the period. Hedge funds and other institutional investors own 91.76% of the company's stock.

Toll Brothers Trading Down 2.2 %

Shares of Toll Brothers stock traded down $3.71 during trading on Tuesday, reaching $164.09. 1,388,702 shares of the stock were exchanged, compared to its average volume of 1,355,444. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38. The stock's fifty day moving average is $152.69 and its 200 day moving average is $136.85. The firm has a market cap of $16.57 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.68. Toll Brothers, Inc. has a 1 year low of $84.40 and a 1 year high of $169.52.

Toll Brothers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. Toll Brothers's dividend payout ratio is currently 6.34%.

Insider Transactions at Toll Brothers

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $158.23, for a total value of $3,955,750.00. Following the completion of the sale, the chief executive officer now directly owns 221,382 shares in the company, valued at $35,029,273.86. This trade represents a 10.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Martin P. Connor sold 22,673 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the completion of the sale, the chief financial officer now owns 14,721 shares of the company's stock, valued at $2,109,224.88. This trade represents a 60.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,673 shares of company stock worth $19,684,387. Company insiders own 1.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TOL. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $142.00 price target on shares of Toll Brothers in a report on Wednesday, August 21st. Bank of America upped their price target on shares of Toll Brothers from $160.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Oppenheimer increased their target price on Toll Brothers from $168.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Wedbush raised Toll Brothers from a "neutral" rating to an "outperform" rating and increased their target price for the company from $148.00 to $175.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada increased their target price on Toll Brothers from $130.00 to $143.00 and gave the company an "outperform" rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.87.

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.