Vestcor Inc Acquires 6,728 Shares of Toll Brothers, Inc. (NYSE:TOL)

Vestcor Inc raised its position in Toll Brothers, Inc. (NYSE:TOL - Free Report) by 820.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,548 shares of the construction company's stock after acquiring an additional 6,728 shares during the period. Vestcor Inc's holdings in Toll Brothers were worth $951,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. State Street Corp increased its stake in Toll Brothers by 1.2% in the third quarter. State Street Corp now owns 3,662,387 shares of the construction company's stock valued at $565,802,000 after acquiring an additional 42,871 shares during the period. Geode Capital Management LLC boosted its holdings in Toll Brothers by 4.1% during the third quarter. Geode Capital Management LLC now owns 2,157,908 shares of the construction company's stock valued at $333,444,000 after purchasing an additional 84,652 shares in the last quarter. FMR LLC grew its stake in shares of Toll Brothers by 97.7% in the 3rd quarter. FMR LLC now owns 2,118,459 shares of the construction company's stock valued at $327,281,000 after purchasing an additional 1,046,758 shares during the period. Jennison Associates LLC lifted its position in shares of Toll Brothers by 38.7% during the 4th quarter. Jennison Associates LLC now owns 1,226,271 shares of the construction company's stock worth $154,449,000 after buying an additional 341,980 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in Toll Brothers in the 3rd quarter valued at $111,562,000. Institutional investors own 91.76% of the company's stock.

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Toll Brothers Trading Up 1.9 %

NYSE:TOL traded up $1.98 on Wednesday, hitting $106.98. 1,810,739 shares of the stock were exchanged, compared to its average volume of 1,416,149. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 7.36, a P/E/G 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, Inc. has a 52 week low of $102.49 and a 52 week high of $169.52. The company's 50-day moving average price is $122.36 and its 200 day moving average price is $138.22.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.24). Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.91 billion. On average, equities research analysts forecast that Toll Brothers, Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This is a boost from Toll Brothers's previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%. Toll Brothers's payout ratio is 6.88%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TOL. Keefe, Bruyette & Woods dropped their price objective on Toll Brothers from $164.00 to $132.00 and set a "market perform" rating for the company in a research note on Tuesday, February 25th. The Goldman Sachs Group reduced their price target on shares of Toll Brothers from $143.00 to $125.00 and set a "neutral" rating on the stock in a research 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. Evercore ISI lifted their target price on shares of Toll Brothers from $181.00 to $184.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Finally, Citigroup decreased their price target on Toll Brothers from $155.00 to $137.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $147.57.

Insider Activity at Toll Brothers

In other Toll Brothers news, Director Christine Garvey sold 204 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $125.78, for a total value of $25,659.12. Following the completion of the sale, the director now owns 7,728 shares of the company's stock, valued at approximately $972,027.84. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin P. Connor sold 11,140 shares of the business's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $126.07, for a total transaction of $1,404,419.80. Following the completion of the transaction, the chief financial officer now directly owns 20,618 shares of the company's stock, valued at $2,599,311.26. This trade represents a 35.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,785 shares of company stock worth $1,479,185. 1.54% of the stock is owned by 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.