Royce & Associates LP Lowers Stock Position in Toll Brothers, Inc. (NYSE:TOL)

Royce & Associates LP lessened its holdings in Toll Brothers, Inc. (NYSE:TOL) by 3.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 54,384 shares of the construction company’s stock after selling 2,020 shares during the period. Royce & Associates LP’s holdings in Toll Brothers were worth $8,402,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. First Trust Direct Indexing L.P. lifted its position in Toll Brothers by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 5,089 shares of the construction company’s stock valued at $786,000 after acquiring an additional 72 shares during the last quarter. Fifth Third Bancorp lifted its position in Toll Brothers by 11.2% during the second quarter. Fifth Third Bancorp now owns 814 shares of the construction company’s stock valued at $94,000 after acquiring an additional 82 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in Toll Brothers by 3.7% during the third quarter. First Citizens Bank & Trust Co. now owns 2,351 shares of the construction company’s stock valued at $363,000 after acquiring an additional 83 shares during the last quarter. Clifford Swan Investment Counsel LLC lifted its position in Toll Brothers by 5.1% during the second quarter. Clifford Swan Investment Counsel LLC now owns 1,839 shares of the construction company’s stock valued at $212,000 after acquiring an additional 89 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its position in Toll Brothers by 21.5% during the second quarter. J.Safra Asset Management Corp now owns 509 shares of the construction company’s stock valued at $59,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Activity at Toll Brothers

In related news, Director John A. Mclean sold 1,000 shares of the stock in a transaction on 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 sale, the director now owns 9,944 shares in the company, valued at $1,502,538.40. This represents a 9.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the completion of the sale, the chief executive officer now owns 221,382 shares of the company’s stock, valued at $35,029,273.86. This trade represents a 10.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,257 shares of company stock valued at $32,602,152 in the last ninety days. Insiders own 1.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TOL. Oppenheimer increased their target price 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. Seaport Res Ptn cut shares of Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Wells Fargo & Company raised 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. Barclays raised their price target on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada raised their price target on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Toll Brothers has an average rating of “Moderate Buy” and an average target price of $148.87.

Toll Brothers Price Performance

Shares of TOL opened at $152.67 on Monday. Toll Brothers, Inc. has a fifty-two week low of $84.40 and a fifty-two week high of $160.12. The firm’s 50 day moving average price is $151.01 and its 200 day moving average price is $135.18. The company has a market cap of $15.42 billion, a P/E ratio of 10.52, a PEG ratio of 1.14 and a beta of 1.68. 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 (NYSE:TOL) last announced its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share 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 in the prior year, the firm earned $3.73 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts forecast that Toll Brothers, Inc. will post 13.53 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

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

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.