Jennison Associates LLC Has $136.61 Million Stock Position in Toll Brothers, Inc. (NYSE:TOL)

Jennison Associates LLC lifted its holdings in Toll Brothers, Inc. (NYSE:TOL) by 35.1% during the 3rd quarter, Holdings Channel reports. The fund owned 884,291 shares of the construction company’s stock after acquiring an additional 229,603 shares during the quarter. Jennison Associates LLC’s holdings in Toll Brothers were worth $136,614,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. TCW Group Inc. grew its holdings in Toll Brothers by 27.9% during the 2nd quarter. TCW Group Inc. now owns 75,646 shares of the construction company’s stock worth $8,713,000 after acquiring an additional 16,503 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Toll Brothers by 38.7% in the first quarter. Lazard Asset Management LLC now owns 194,111 shares of the construction company’s stock valued at $25,111,000 after purchasing an additional 54,196 shares in the last quarter. Chartwell Investment Partners LLC raised its position in Toll Brothers by 66.5% in the 3rd quarter. Chartwell Investment Partners LLC now owns 35,295 shares of the construction company’s stock worth $5,453,000 after purchasing an additional 14,092 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Toll Brothers by 62,605.9% during the 3rd quarter. International Assets Investment Management LLC now owns 10,660 shares of the construction company’s stock worth $1,647,000 after buying an additional 10,643 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Toll Brothers by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,571 shares of the construction company’s stock valued at $7,319,000 after buying an additional 6,998 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TOL shares. Bank of America upped their price target on Toll Brothers from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $142.00 target price on shares of Toll Brothers in a research note on Wednesday, August 21st. Seaport Res Ptn lowered shares of Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Wells Fargo & Company increased their price target on Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada raised 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

Toll Brothers Stock Down 0.4 %

Shares of TOL stock opened at $151.83 on Wednesday. The firm’s fifty day moving average price is $151.27 and its two-hundred day moving average price is $135.51. 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. The firm has a market capitalization of $15.33 billion, a P/E ratio of 10.46, a PEG ratio of 1.14 and a beta of 1.68.

Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.31 by $0.29. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.73 EPS. On average, equities analysts predict that Toll Brothers, Inc. will post 13.53 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.23 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Toll Brothers’s payout ratio is 6.34%.

Insiders Place Their Bets

In related news, Director John A. Mclean sold 1,000 shares of the firm’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 transaction, the director now directly owns 9,944 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the business’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders have sold a total of 216,257 shares of company stock valued at $32,602,152 over the last 90 days. 1.54% of the stock is currently owned by insiders.

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.