Westfield Capital Management Co. LP Invests $111.56 Million in Toll Brothers, Inc. (NYSE:TOL)

Westfield Capital Management Co. LP purchased a new stake in Toll Brothers, Inc. (NYSE:TOL) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 722,130 shares of the construction company’s stock, valued at approximately $111,562,000. Westfield Capital Management Co. LP owned about 0.72% of Toll Brothers at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Greenhaven Associates Inc. boosted its stake in shares of Toll Brothers by 1.0% during the second quarter. Greenhaven Associates Inc. now owns 5,565,787 shares of the construction company’s stock worth $641,067,000 after buying an additional 52,893 shares during the period. Pacer Advisors Inc. raised its stake in Toll Brothers by 34.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,095,673 shares of the construction company’s stock valued at $241,380,000 after acquiring an additional 541,140 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Toll Brothers by 81.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock worth $110,993,000 after acquiring an additional 431,160 shares during the period. Jennison Associates LLC grew its stake in shares of Toll Brothers by 35.1% in the 3rd quarter. Jennison Associates LLC now owns 884,291 shares of the construction company’s stock valued at $136,614,000 after purchasing an additional 229,603 shares during the last quarter. Finally, Marsico Capital Management LLC increased its holdings in shares of Toll Brothers by 24.5% in the second quarter. Marsico Capital Management LLC now owns 755,190 shares of the construction company’s stock valued at $86,983,000 after purchasing an additional 148,562 shares during the period. Institutional investors and hedge funds own 91.76% of the company’s stock.

Toll Brothers Trading Up 3.4 %

NYSE:TOL opened at $157.59 on Friday. The company has a market capitalization of $15.91 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 1.14 and a beta of 1.68. Toll Brothers, Inc. has a 52-week low of $84.40 and a 52-week high of $160.12. The stock has a fifty day simple moving average of $152.07 and a 200-day simple moving average of $136.15. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, October 11th. Toll Brothers’s dividend payout ratio (DPR) is presently 6.34%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Oppenheimer lifted their price objective 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. StockNews.com lowered shares of Toll Brothers from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Wells Fargo & Company raised their price objective on shares of Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Barclays boosted their target price on Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Finally, Bank of America raised their price target on Toll Brothers from $160.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $153.05, for a total transaction of $3,826,250.00. Following the sale, the chief executive officer now directly owns 296,382 shares of the company’s stock, valued at $45,361,265.10. This trade represents a 7.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin P. Connor sold 22,673 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the transaction, the chief financial officer now directly owns 14,721 shares in the company, valued at $2,109,224.88. The trade was a 60.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,673 shares of company stock worth $19,684,387 over the last ninety days. 1.54% of the stock is currently owned by insiders.

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.