Invst LLC Sells 10,961 Shares of Toll Brothers, Inc. (NYSE:TOL)

Invst LLC trimmed its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 86.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,735 shares of the construction company’s stock after selling 10,961 shares during the period. Invst LLC’s holdings in Toll Brothers were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TOL. Norges Bank bought a new stake in shares of Toll Brothers during the fourth quarter worth approximately $128,982,000. Jennison Associates LLC increased its stake in Toll Brothers by 41.2% in the fourth quarter. Jennison Associates LLC now owns 834,899 shares of the construction company’s stock valued at $85,819,000 after purchasing an additional 243,553 shares in the last quarter. Vanguard Group Inc. increased its stake in Toll Brothers by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 11,268,164 shares of the construction company’s stock valued at $1,158,255,000 after purchasing an additional 216,849 shares in the last quarter. Victory Capital Management Inc. increased its stake in Toll Brothers by 93.2% in the fourth quarter. Victory Capital Management Inc. now owns 385,024 shares of the construction company’s stock valued at $39,577,000 after purchasing an additional 185,746 shares in the last quarter. Finally, Bank of Nova Scotia bought a new stake in Toll Brothers in the fourth quarter valued at approximately $18,792,000. 91.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TOL has been the subject of several recent analyst reports. Evercore ISI upped their target price on shares of Toll Brothers from $177.00 to $180.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company upped their target price on shares of Toll Brothers from $142.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Barclays lowered their target price on shares of Toll Brothers from $118.00 to $116.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group raised shares of Toll Brothers from a “sell” rating to a “neutral” rating and upped their target price for the company from $112.00 to $124.00 in a research note on Monday, June 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Toll Brothers from $135.00 to $142.00 and gave the company an “outperform” rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

Insider Buying and Selling at Toll Brothers

In other Toll Brothers news, CFO Martin P. Connor sold 3,806 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $121.84, for a total value of $463,723.04. Following the completion of the sale, the chief financial officer now owns 24,721 shares in the company, valued at $3,012,006.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Martin P. Connor sold 3,806 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $121.84, for a total value of $463,723.04. Following the transaction, the chief financial officer now directly owns 24,721 shares of the company’s stock, valued at $3,012,006.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin P. Connor sold 16,194 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $118.74, for a total transaction of $1,922,875.56. Following the completion of the transaction, the chief financial officer now directly owns 28,527 shares in the company, valued at $3,387,295.98. The disclosure for this sale can be found here. Insiders sold a total of 20,170 shares of company stock worth $2,407,335 over the last quarter. 1.54% of the stock is currently owned by insiders.

Toll Brothers Stock Down 2.4 %

TOL traded down $3.29 during trading hours on Friday, hitting $135.05. 1,633,657 shares of the company’s stock were exchanged, compared to its average volume of 1,448,499. Toll Brothers, Inc. has a 1-year low of $68.08 and a 1-year high of $146.75. The stock’s 50-day moving average is $122.34 and its two-hundred day moving average is $117.92. The stock has a market cap of $13.86 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 1.13 and a beta of 1.67. The company has a quick ratio of 0.69, a current ratio of 4.59 and a debt-to-equity ratio of 0.39.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, May 21st. The construction company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.13 by ($0.75). The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.58 billion. Toll Brothers had a return on equity of 20.91% and a net margin of 15.07%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.85 EPS. Sell-side analysts predict that Toll Brothers, Inc. will post 12.94 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, July 5th. Toll Brothers’s dividend payout ratio is currently 6.28%.

About Toll Brothers

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.