Jennison Associates LLC Purchases 229,603 Shares of Toll Brothers, Inc. (NYSE:TOL)

Jennison Associates LLC boosted its holdings in Toll Brothers, Inc. (NYSE:TOL - Free Report) by 35.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 884,291 shares of the construction company's stock after buying an additional 229,603 shares during the period. Jennison Associates LLC owned approximately 0.88% of Toll Brothers worth $136,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Commerce Bank boosted its holdings in Toll Brothers by 7.0% in the 3rd quarter. Commerce Bank now owns 3,793 shares of the construction company's stock valued at $586,000 after purchasing an additional 249 shares during the period. Avior Wealth Management LLC grew its position in Toll Brothers by 4,894.1% during the third quarter. Avior Wealth Management LLC now owns 3,396 shares of the construction company's stock worth $525,000 after buying an additional 3,328 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Toll Brothers by 6.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 22,437 shares of the construction company's stock worth $3,466,000 after acquiring an additional 1,267 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of Toll Brothers in the 3rd quarter valued at about $328,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Toll Brothers by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 27,644 shares of the construction company's stock valued at $4,271,000 after acquiring an additional 491 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company's stock.

Insider Activity at Toll Brothers

In other news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the completion of the sale, the chief executive officer now owns 346,382 shares of the company's stock, valued at $51,087,881.18. This represents a 20.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Mclean sold 1,000 shares of the company's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $151.10, for a total value of $151,100.00. Following the completion of the sale, the director now owns 9,944 shares of the company's stock, valued at $1,502,538.40. This trade represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 216,257 shares of company stock valued at $32,602,152 over the last 90 days. Corporate insiders own 1.54% of the company's stock.

Toll Brothers Trading Down 0.1 %

Toll Brothers stock traded down $0.14 during mid-day trading on Wednesday, reaching $151.60. 427,559 shares of the company traded hands, compared to its average volume of 1,353,162. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57. Toll Brothers, Inc. has a 52-week low of $84.40 and a 52-week high of $160.12. The firm's 50 day moving average price is $151.51 and its 200 day moving average price is $135.71. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 1.14 and a beta of 1.68.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.29. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.73 EPS. On average, analysts anticipate that Toll Brothers, Inc. will post 13.53 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently declared 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, October 11th. Toll Brothers's payout ratio is 6.34%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TOL shares. StockNews.com downgraded shares of Toll Brothers from a "buy" rating to a "hold" rating in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an "outperform" rating in a report on Thursday, August 22nd. Wells Fargo & Company raised their price target on Toll Brothers from $163.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $142.00 price target on shares of Toll Brothers in a research report on Wednesday, August 21st. Finally, Oppenheimer boosted their price objective on shares of Toll Brothers from $168.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $148.87.

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.