First Citizens Bank & Trust Co. trimmed its stake in Toll Brothers Inc (NYSE:TOL) by 20.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,026 shares of the construction company’s stock after selling 2,068 shares during the period. First Citizens Bank & Trust Co.’s holdings in Toll Brothers were worth $385,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Private Asset Management Inc. acquired a new stake in Toll Brothers in the 4th quarter valued at $240,000. Prudential Financial Inc. boosted its stake in Toll Brothers by 19.8% in the 3rd quarter. Prudential Financial Inc. now owns 1,717,119 shares of the construction company’s stock valued at $71,209,000 after buying an additional 283,578 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Toll Brothers by 23.3% in the third quarter. Parametric Portfolio Associates LLC now owns 303,167 shares of the construction company’s stock worth $12,572,000 after purchasing an additional 57,261 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Toll Brothers by 73.2% in the third quarter. Public Employees Retirement System of Ohio now owns 125,517 shares of the construction company’s stock worth $5,205,000 after purchasing an additional 53,045 shares in the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new position in Toll Brothers in the third quarter worth $344,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Paul E. Shapiro sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $51.54, for a total transaction of $1,288,500.00. Following the completion of the sale, the director now owns 131,493 shares of the company’s stock, valued at $6,777,149.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Richard T. Hartman sold 8,537 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $46.00, for a total transaction of $392,702.00. Following the completion of the sale, the president now owns 27,233 shares in the company, valued at approximately $1,252,718. The disclosure for this sale can be found here. Insiders have sold 124,037 shares of company stock valued at $6,114,382 in the last ninety days. Insiders own 8.78% of the company’s stock.
Shares of Toll Brothers Inc (NYSE:TOL) opened at $51.88 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 6.61. Toll Brothers Inc has a 1-year low of $30.67 and a 1-year high of $52.44. The firm has a market cap of $7,899.13, a PE ratio of 16.26, a PEG ratio of 0.96 and a beta of 1.57.
Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Tuesday, December 5th. The construction company reported $1.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.02). Toll Brothers had a return on equity of 12.00% and a net margin of 9.21%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business earned $0.67 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. research analysts predict that Toll Brothers Inc will post 3.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, January 11th. Toll Brothers’s dividend payout ratio is 10.03%.
Several research firms recently weighed in on TOL. KeyCorp raised Toll Brothers from a “sector weight” rating to an “overweight” rating and raised their price objective for the company from $44.55 to $52.00 in a report on Thursday, November 2nd. They noted that the move was a valuation call. UBS Group began coverage on Toll Brothers in a research report on Wednesday, October 25th. They issued a “buy” rating and a $50.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $45.00 target price on shares of Toll Brothers in a research report on Wednesday, November 15th. ValuEngine lowered Toll Brothers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th. Finally, MKM Partners boosted their target price on Toll Brothers to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. Toll Brothers has a consensus rating of “Hold” and an average price target of $49.50.
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About Toll Brothers
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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