KLP Kapitalforvaltning AS Purchases New Position in Toll Brothers, Inc. (NYSE:TOL)

KLP Kapitalforvaltning AS acquired a new stake in Toll Brothers, Inc. (NYSE:TOL) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 24,700 shares of the construction company’s stock, valued at approximately $3,111,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Toll Brothers by 1.2% during the third quarter. State Street Corp now owns 3,662,387 shares of the construction company’s stock worth $565,802,000 after buying an additional 42,871 shares in the last quarter. Geode Capital Management LLC grew its position in Toll Brothers by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,157,908 shares of the construction company’s stock worth $333,444,000 after acquiring an additional 84,652 shares during the last quarter. FMR LLC increased its holdings in Toll Brothers by 97.7% in the 3rd quarter. FMR LLC now owns 2,118,459 shares of the construction company’s stock worth $327,281,000 after purchasing an additional 1,046,758 shares in the last quarter. Jennison Associates LLC raised its position in Toll Brothers by 38.7% in the fourth quarter. Jennison Associates LLC now owns 1,226,271 shares of the construction company’s stock valued at $154,449,000 after purchasing an additional 341,980 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Toll Brothers during the fourth quarter valued at about $43,615,000. Institutional investors and hedge funds own 91.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TOL shares. Oppenheimer lowered their price objective on Toll Brothers from $189.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Seaport Res Ptn upgraded shares of Toll Brothers from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $150.00 price target (down previously from $166.00) on shares of Toll Brothers in a report on Friday, December 13th. UBS Group decreased their price objective on Toll Brothers from $185.00 to $183.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Wells Fargo & Company cut their target price on Toll Brothers from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Toll Brothers presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.57.

Toll Brothers Stock Performance

Shares of TOL stock opened at $109.32 on Thursday. The firm has a 50 day moving average of $120.01 and a 200-day moving average of $136.91. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 0.80, a current ratio of 4.65 and a debt-to-equity ratio of 0.35. Toll Brothers, Inc. has a 52 week low of $102.49 and a 52 week high of $169.52.

Toll Brothers (NYSE:TOL) last posted 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). Toll Brothers had a return on equity of 18.32% and a net margin of 14.03%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.91 billion. On average, equities analysts forecast that Toll Brothers, Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a dividend of $0.25 per share. This is an increase from Toll Brothers’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, April 11th. Toll Brothers’s dividend payout ratio is 6.88%.

Insiders Place Their Bets

In other news, Director Christine Garvey sold 204 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $125.78, for a total transaction of $25,659.12. Following the transaction, the director now directly owns 7,728 shares of the company’s stock, valued at $972,027.84. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin P. Connor sold 11,140 shares of Toll Brothers stock in a transaction on Monday, December 30th. The shares were sold at an average price of $126.07, for a total transaction of $1,404,419.80. Following the completion of the sale, the chief financial officer now directly owns 20,618 shares of the company’s stock, valued at approximately $2,599,311.26. The trade was a 35.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,764 shares of company stock worth $1,476,523. Corporate insiders own 1.54% of the company’s stock.

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.