Toll Brothers, Inc. (NYSE:TOL) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,926 shares of the construction company’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Toll Brothers were worth $3,013,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fiduciary Alliance LLC acquired a new position in Toll Brothers during the fourth quarter worth $1,117,000. Franklin Resources Inc. boosted its position in shares of Toll Brothers by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 180,023 shares of the construction company’s stock worth $27,659,000 after purchasing an additional 9,195 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Toll Brothers during the 3rd quarter worth $12,506,000. Chartwell Investment Partners LLC increased its holdings in shares of Toll Brothers by 66.5% in the 3rd quarter. Chartwell Investment Partners LLC now owns 35,295 shares of the construction company’s stock valued at $5,453,000 after purchasing an additional 14,092 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of Toll Brothers by 4,894.1% in the third quarter. Avior Wealth Management LLC now owns 3,396 shares of the construction company’s stock valued at $525,000 after purchasing an additional 3,328 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on TOL. Barclays dropped their target price on shares of Toll Brothers from $115.00 to $101.00 and set an “underweight” rating for the company in a report on Tuesday, February 25th. Citigroup dropped their price objective on Toll Brothers from $155.00 to $137.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $150.00 target price (down from $166.00) on shares of Toll Brothers in a research report on Friday, December 13th. Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of Toll Brothers in a research report on Friday, February 14th. Finally, Oppenheimer decreased 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.57.

Toll Brothers Stock Down 1.6 %

TOL stock opened at $109.40 on Friday. Toll Brothers, Inc. has a one year low of $105.73 and a one year high of $169.52. The stock has a market capitalization of $10.93 billion, a P/E ratio of 7.53, a PEG ratio of 1.02 and a beta of 1.77. The company has a 50 day moving average price of $125.14 and a two-hundred day moving average price of $140.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 4.65.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.91 billion. As a group, sell-side analysts expect that Toll Brothers, Inc. will post 13.83 EPS for the current year.

Toll Brothers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 10th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.84%. Toll Brothers’s payout ratio is currently 6.33%.

Insider Transactions at Toll Brothers

In other news, CFO Martin P. Connor sold 11,140 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $126.07, for a total transaction of $1,404,419.80. Following the completion of the sale, the chief financial officer now directly owns 20,618 shares in the company, valued at $2,599,311.26. This represents a 35.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Christine Garvey sold 204 shares of Toll Brothers stock in a transaction on Monday, December 30th. The shares were sold at an average price of $125.78, for a total value of $25,659.12. Following the completion of the transaction, the director now owns 7,728 shares in the company, valued at $972,027.84. The trade was a 2.57 % 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 three months. Company 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.