Vestcor Inc Decreases Stock Holdings in Toll Brothers, Inc. (NYSE:TOL)

Vestcor Inc lessened its stake in shares of Toll Brothers, Inc. (NYSE:TOL - Free Report) by 89.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 820 shares of the construction company's stock after selling 7,267 shares during the period. Vestcor Inc's holdings in Toll Brothers were worth $127,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Toll Brothers by 3.9% in the 3rd quarter. Barclays PLC now owns 233,681 shares of the construction company's stock worth $36,103,000 after purchasing an additional 8,794 shares during the last quarter. MML Investors Services LLC raised its holdings in Toll Brothers by 22.4% in the third quarter. MML Investors Services LLC now owns 23,005 shares of the construction company's stock worth $3,554,000 after buying an additional 4,209 shares during the last quarter. Kensington Investment Counsel LLC bought a new position in shares of Toll Brothers in the third quarter worth approximately $207,000. Orion Portfolio Solutions LLC grew its holdings in shares of Toll Brothers by 30.4% during the third quarter. Orion Portfolio Solutions LLC now owns 2,889 shares of the construction company's stock valued at $446,000 after buying an additional 673 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of Toll Brothers during the third quarter valued at approximately $5,407,000. Hedge funds and other institutional investors own 91.76% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on TOL. Keefe, Bruyette & Woods cut Toll Brothers from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $168.00 to $164.00 in a research report on Tuesday. Evercore ISI upped their price target on Toll Brothers from $181.00 to $184.00 and gave the company an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $150.00 price objective (down from $166.00) on shares of Toll Brothers in a report on Friday. Wedbush reissued an "outperform" rating and issued a $175.00 target price on shares of Toll Brothers in a research report on Wednesday. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $189.00 price target on shares of Toll Brothers in a report on Thursday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Toll Brothers has a consensus rating of "Moderate Buy" and an average target price of $152.53.

Toll Brothers Stock Performance

Shares of TOL stock traded down $4.61 during trading hours on Friday, reaching $133.85. 2,505,619 shares of the company traded hands, compared to its average volume of 1,372,502. The firm has a 50-day moving average price of $153.08 and a 200 day moving average price of $139.16. The company has a market cap of $13.51 billion, a P/E ratio of 8.91, a P/E/G ratio of 1.07 and a beta of 1.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.92 and a quick ratio of 0.57. Toll Brothers, Inc. has a 12-month low of $95.46 and a 12-month high of $169.52.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its quarterly earnings results on Monday, December 9th. The construction company reported $4.63 earnings per share for the quarter, beating the consensus estimate of $4.34 by $0.29. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.17 billion. Toll Brothers had a net margin of 14.48% and a return on equity of 19.64%. The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.11 earnings per share. As a group, sell-side analysts predict that Toll Brothers, Inc. will post 14.55 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a $0.23 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.92 dividend on an annualized basis and a yield of 0.69%. Toll Brothers's payout ratio is presently 6.12%.

Insider Buying and Selling at Toll Brothers

In related news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the completion of the transaction, the chief executive officer now directly owns 221,382 shares of the company's stock, valued at approximately $35,029,273.86. This trade represents a 10.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Martin P. Connor sold 5,000 shares of the business's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $155.44, for a total transaction of $777,200.00. Following the completion of the sale, the chief financial officer now owns 9,721 shares in the company, valued at approximately $1,511,032.24. The trade was a 33.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,000 shares of company stock valued at $16,435,800 over the last ninety days. 1.54% of the stock is currently owned by company insiders.

Toll Brothers 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.