Oppenheimer & Co. Inc. Sells 3,465 Shares of Toll Brothers, Inc. (NYSE:TOL)

Oppenheimer & Co. Inc. trimmed its position in Toll Brothers, Inc. (NYSE:TOL) by 10.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,644 shares of the construction company’s stock after selling 3,465 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Toll Brothers were worth $4,425,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TOL. Entropy Technologies LP acquired a new position in Toll Brothers in the first quarter worth about $424,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Toll Brothers by 8.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 145,190 shares of the construction company’s stock worth $18,783,000 after buying an additional 10,944 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Toll Brothers during the 1st quarter worth approximately $599,000. Orion Portfolio Solutions LLC boosted its stake in Toll Brothers by 16.6% in the 1st quarter. Orion Portfolio Solutions LLC now owns 6,270 shares of the construction company’s stock valued at $811,000 after buying an additional 894 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in Toll Brothers by 0.9% in the first quarter. Jupiter Asset Management Ltd. now owns 718,809 shares of the construction company’s stock valued at $92,992,000 after acquiring an additional 6,572 shares during the period. 91.76% of the stock is owned by institutional investors.

Toll Brothers Stock Performance

TOL stock opened at $153.70 on Friday. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38. Toll Brothers, Inc. has a twelve month low of $84.40 and a twelve month high of $160.12. The business’s fifty day moving average is $150.42 and its 200-day moving average is $134.72. The company has a market cap of $15.52 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 1.13 and a beta of 1.68.

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 analysts’ consensus estimates of $3.31 by $0.29. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.73 earnings per share. Equities research analysts forecast that Toll Brothers, Inc. will post 13.53 EPS for the current year.

Toll Brothers Dividend Announcement

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

Insider Activity at Toll Brothers

In related news, Director John A. Mclean sold 1,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was 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 directly owns 9,944 shares in the company, valued at approximately $1,502,538.40. This trade represents a 9.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total value of $12,917,764.16. Following the completion of the sale, the chief executive officer now owns 346,382 shares in the company, valued at $51,087,881.18. The trade was a 20.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 216,257 shares of company stock worth $32,602,152. 1.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TOL shares. Barclays boosted their target price on shares of Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Oppenheimer raised their price objective 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. Royal Bank of Canada boosted their target price on Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $142.00 price target on shares of Toll Brothers in a report on Wednesday, August 21st. Finally, Wells Fargo & Company increased their target price on Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

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.