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

Royce & Associates LP decreased its position in Toll Brothers, Inc. (NYSE:TOL) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,368 shares of the construction company’s stock after selling 6,016 shares during the quarter. Royce & Associates LP’s holdings in Toll Brothers were worth $6,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. ORG Partners LLC purchased a new position in Toll Brothers in the fourth quarter worth about $25,000. Brooklyn Investment Group purchased a new position in shares of Toll Brothers in the 3rd quarter worth approximately $27,000. Larson Financial Group LLC boosted its holdings in shares of Toll Brothers by 57.9% in the 3rd quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock worth $28,000 after purchasing an additional 66 shares during the period. Promus Capital LLC bought a new position in shares of Toll Brothers during the 4th quarter valued at approximately $29,000. Finally, IAG Wealth Partners LLC raised its holdings in Toll Brothers by 1,034.8% during the 4th quarter. IAG Wealth Partners LLC now owns 261 shares of the construction company’s stock valued at $33,000 after buying an additional 238 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Christine Garvey sold 420 shares of Toll Brothers stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $110.58, for a total value of $46,443.60. Following the transaction, the director now owns 13,186 shares of the company’s stock, valued at $1,458,107.88. The trade was a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin P. Connor sold 11,140 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 20,618 shares of the company’s stock, valued at $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 ninety days, insiders sold 11,785 shares of company stock worth $1,479,185. 1.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Oppenheimer cut their price objective on shares of Toll Brothers from $189.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Seaport Res Ptn upgraded shares of Toll Brothers from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. Wedbush reissued an “outperform” rating and issued a $175.00 price objective on shares of Toll Brothers in a research note on Friday, February 14th. Royal Bank of Canada cut their target price on Toll Brothers from $142.00 to $139.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Barclays reduced their price target on Toll Brothers from $115.00 to $101.00 and set an “underweight” rating on the stock in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.57.

Toll Brothers Stock Performance

TOL stock opened at $106.98 on Thursday. Toll Brothers, Inc. has a 1-year low of $102.49 and a 1-year high of $169.52. The business has a 50-day moving average price of $121.96 and a 200 day moving average price of $138.01. The company has a market capitalization of $10.69 billion, a P/E ratio of 7.36, a PEG ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.65 and a quick ratio of 0.80.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, February 18th. The construction company reported $1.75 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.91 billion. As a group, equities research analysts forecast that Toll Brothers, Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, April 11th. This is a positive change from Toll Brothers’s previous quarterly dividend of $0.23. Toll Brothers’s payout ratio is 6.88%.

About Toll Brothers

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.