Tower Bridge Advisors Sells 2,550 Shares of Toll Brothers, Inc. (NYSE:TOL)

Tower Bridge Advisors decreased its position in shares of Toll Brothers, Inc. (NYSE:TOL) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 83,527 shares of the construction company’s stock after selling 2,550 shares during the quarter. Toll Brothers makes up 1.3% of Tower Bridge Advisors’ investment portfolio, making the stock its 21st largest position. Tower Bridge Advisors owned approximately 0.08% of Toll Brothers worth $12,904,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Greenhaven Associates Inc. boosted its holdings in Toll Brothers by 1.0% in the 2nd quarter. Greenhaven Associates Inc. now owns 5,565,787 shares of the construction company’s stock worth $641,067,000 after buying an additional 52,893 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Toll Brothers by 34.8% in the second quarter. Pacer Advisors Inc. now owns 2,095,673 shares of the construction company’s stock worth $241,380,000 after acquiring an additional 541,140 shares during the period. Point72 Asset Management L.P. grew its position in shares of Toll Brothers by 81.0% in the second quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock valued at $110,993,000 after purchasing an additional 431,160 shares in the last quarter. Marsico Capital Management LLC raised its stake in shares of Toll Brothers by 24.5% during the 2nd quarter. Marsico Capital Management LLC now owns 755,190 shares of the construction company’s stock valued at $86,983,000 after purchasing an additional 148,562 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Toll Brothers by 18.8% during the 3rd quarter. Victory Capital Management Inc. now owns 493,216 shares of the construction company’s stock worth $76,197,000 after purchasing an additional 78,068 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Toll Brothers Stock Performance

Shares of NYSE TOL opened at $152.67 on Friday. The stock’s 50-day moving average is $151.01 and its 200 day moving average is $135.07. The stock has a market cap of $15.42 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.14 and a beta of 1.68. Toll Brothers, Inc. has a 1-year low of $84.40 and a 1-year high of $160.12. 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 posted its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.31 by $0.29. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the firm posted $3.73 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Toll Brothers, Inc. will post 13.53 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.23 per share. The ex-dividend date was Friday, October 11th. This represents a $0.92 annualized dividend and a yield of 0.60%. Toll Brothers’s payout ratio is 6.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TOL shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $142.00 target price on shares of Toll Brothers in a report on Wednesday, August 21st. Oppenheimer upped their target price 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. Wedbush upgraded shares of Toll Brothers from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $148.00 to $175.00 in a research note on Friday, October 25th. Barclays boosted their price target on shares of Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company increased their price objective on Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Toll Brothers presently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

Insider Transactions at Toll Brothers

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the stock in a transaction on 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John A. Mclean sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $151.10, for a total transaction of $151,100.00. Following the completion of the transaction, the director now owns 9,944 shares in the company, valued at $1,502,538.40. The trade was a 9.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,257 shares of company stock worth $32,602,152. Company insiders own 1.54% of the company’s stock.

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.