Wells Fargo & Company MN Reduces Stock Position in Toll Brothers, Inc. (NYSE:TOL)

Wells Fargo & Company MN cut its stake in Toll Brothers, Inc. (NYSE:TOL - Free Report) by 31.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,336 shares of the construction company's stock after selling 103,981 shares during the period. Wells Fargo & Company MN owned 0.23% of Toll Brothers worth $28,507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Toll Brothers during the fourth quarter worth $149,924,000. Raymond James Financial Inc. acquired a new position in shares of Toll Brothers in the 4th quarter valued at about $43,615,000. Jennison Associates LLC grew its stake in Toll Brothers by 38.7% during the fourth quarter. Jennison Associates LLC now owns 1,226,271 shares of the construction company's stock worth $154,449,000 after purchasing an additional 341,980 shares during the period. Empowered Funds LLC increased its holdings in Toll Brothers by 228.1% in the fourth quarter. Empowered Funds LLC now owns 232,180 shares of the construction company's stock worth $29,243,000 after purchasing an additional 161,408 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Toll Brothers by 21.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 784,412 shares of the construction company's stock valued at $98,797,000 after buying an additional 140,133 shares during the period. Institutional investors and hedge funds own 91.76% of the company's stock.

Insider Activity

In other Toll Brothers news, Director Christine Garvey sold 420 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $110.58, for a total value of $46,443.60. Following the sale, the director now directly owns 13,186 shares in the company, valued at $1,458,107.88. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.54% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently commented on TOL. Citigroup lowered their price objective on shares of Toll Brothers from $155.00 to $137.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Barclays reduced their price target on shares of Toll Brothers from $101.00 to $92.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Seaport Res Ptn raised shares of Toll Brothers from a "strong sell" rating to a "hold" rating in a research report on Monday, January 27th. Royal Bank of Canada reduced their target price on Toll Brothers from $142.00 to $139.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Oppenheimer dropped their price target on Toll Brothers from $189.00 to $165.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Toll Brothers has an average rating of "Moderate Buy" and an average target price of $144.79.

Toll Brothers Stock Down 3.3 %

Toll Brothers stock traded down $3.06 during trading on Wednesday, hitting $90.97. 484,752 shares of the company were exchanged, compared to its average volume of 1,528,908. The business's 50 day moving average is $108.07 and its 200 day moving average is $131.39. The company has a market capitalization of $9.09 billion, a P/E ratio of 6.26, a PEG ratio of 1.02 and a beta of 1.48. The company has a current ratio of 4.65, a quick ratio of 0.80 and a debt-to-equity ratio of 0.35. Toll Brothers, Inc. has a 52 week low of $86.67 and a 52 week high of $169.52.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.75 EPS for the quarter, missing analysts' consensus estimates of $1.99 by ($0.24). The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.91 billion. Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. Analysts predict that Toll Brothers, Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. This is a boost from Toll Brothers's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, April 11th. Toll Brothers's payout ratio is presently 6.88%.

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.