Empowered Funds LLC Lowers Holdings in Toll Brothers, Inc. (NYSE:TOL)

Empowered Funds LLC lowered its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 26.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 70,772 shares of the construction company’s stock after selling 24,945 shares during the period. Empowered Funds LLC owned about 0.07% of Toll Brothers worth $10,934,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TOL. CIBC Asset Management Inc lifted its position in shares of Toll Brothers by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 3,054 shares of the construction company’s stock worth $472,000 after purchasing an additional 109 shares during the period. Huntington National Bank increased its holdings in Toll Brothers by 46.8% during the third quarter. Huntington National Bank now owns 712 shares of the construction company’s stock valued at $110,000 after buying an additional 227 shares during the last quarter. KBC Group NV increased its stake in shares of Toll Brothers by 18.2% in the third quarter. KBC Group NV now owns 2,827 shares of the construction company’s stock worth $437,000 after purchasing an additional 436 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Toll Brothers by 18.8% during the third quarter. Victory Capital Management Inc. now owns 493,216 shares of the construction company’s stock worth $76,197,000 after acquiring an additional 78,068 shares during the last quarter. Finally, First Heartland Consultants Inc. lifted its position in Toll Brothers by 12.9% during the third quarter. First Heartland Consultants Inc. now owns 2,159 shares of the construction company’s stock valued at $334,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $142.00 target price on shares of Toll Brothers in a research report on Wednesday, August 21st. Barclays lifted their target price on shares of Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their price target on shares of Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Oppenheimer boosted their price target on shares of Toll Brothers from $168.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada upped their target price on shares of Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research report 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 issued a strong buy rating to the company. According to MarketBeat, Toll Brothers presently has an average rating of “Moderate Buy” and an average price target of $148.87.

Insider Activity

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

Toll Brothers Stock Performance

TOL traded down $1.77 during midday trading on Friday, reaching $151.93. The company’s stock had a trading volume of 71,691 shares, compared to its average volume of 1,359,009. Toll Brothers, Inc. has a twelve month low of $84.40 and a twelve month high of $160.12. The stock has a market cap of $15.34 billion, a P/E ratio of 10.59, a PEG ratio of 1.13 and a beta of 1.68. The company has a fifty day simple moving average of $150.42 and a 200 day simple moving average of $134.72. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.29. The firm had revenue of $2.73 billion during 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 business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.73 EPS. Research analysts expect that Toll Brothers, Inc. will post 13.53 earnings per share for the current year.

Toll Brothers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Toll Brothers’s payout ratio is 6.34%.

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.