New York State Common Retirement Fund Sells 3,435 Shares of Toll Brothers, Inc. (NYSE:TOL)

New York State Common Retirement Fund lessened its holdings in Toll Brothers, Inc. (NYSE:TOL) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,718 shares of the construction company’s stock after selling 3,435 shares during the quarter. New York State Common Retirement Fund’s holdings in Toll Brothers were worth $7,773,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its position in Toll Brothers by 97.7% in the 3rd quarter. FMR LLC now owns 2,118,459 shares of the construction company’s stock valued at $327,281,000 after acquiring an additional 1,046,758 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Toll Brothers in the third quarter worth $111,562,000. Jennison Associates LLC increased its holdings 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 period. Vaughan Nelson Investment Management L.P. bought a new position in Toll Brothers during the 3rd quarter worth $38,985,000. Finally, Empowered Funds LLC lifted its holdings in Toll Brothers by 228.1% during the 4th quarter. Empowered Funds LLC now owns 232,180 shares of the construction company’s stock worth $29,243,000 after buying an additional 161,408 shares during the period. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Toll Brothers Price Performance

Shares of NYSE TOL opened at $112.55 on Thursday. The firm has a market capitalization of $11.24 billion, a P/E ratio of 7.75, a P/E/G ratio of 1.02 and a beta of 1.76. The firm’s 50-day moving average price is $127.73 and its 200-day moving average price is $141.29. The company has a current ratio of 4.65, a quick ratio of 0.80 and a debt-to-equity ratio of 0.35. Toll Brothers, Inc. has a 1-year low of $108.86 and a 1-year high of $169.52.

Toll Brothers (NYSE:TOL) last issued its 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). The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.91 billion. Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. Equities research analysts anticipate that Toll Brothers, Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 10th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, January 10th. Toll Brothers’s payout ratio is 6.33%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TOL. Evercore ISI increased their price target on Toll Brothers from $181.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. UBS Group decreased their target price on shares of Toll Brothers from $185.00 to $183.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Keefe, Bruyette & Woods dropped their price target on shares of Toll Brothers from $164.00 to $132.00 and set a “market perform” rating on the stock in a research report on Tuesday. Royal Bank of Canada decreased their price objective on shares of Toll Brothers from $142.00 to $139.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Toll Brothers from $143.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Toll Brothers presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.57.

Insider Buying and Selling

In other news, Director Paul E. Shapiro sold 3,837 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $134.14, for a total transaction of $514,695.18. Following the completion of the sale, the director now directly owns 119,937 shares of the company’s stock, valued at $16,088,349.18. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christine Garvey sold 420 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $110.58, for a total transaction of $46,443.60. Following the completion of the sale, the director now owns 13,186 shares in the company, valued at $1,458,107.88. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,622 shares of company stock worth $1,993,880 in the last ninety days. Corporate insiders own 1.54% of the company’s stock.

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.