Norges Bank Invests $149.92 Million in Toll Brothers, Inc. (NYSE:TOL)

Norges Bank bought a new stake in Toll Brothers, Inc. (NYSE:TOL) in the fourth quarter, HoldingsChannel reports. The fund bought 1,190,349 shares of the construction company’s stock, valued at approximately $149,924,000.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in Toll Brothers in the 4th quarter valued at $25,000. Lee Danner & Bass Inc. acquired a new position in Toll Brothers in the fourth quarter valued at $27,000. Promus Capital LLC purchased a new stake in shares of Toll Brothers in the fourth quarter valued at about $29,000. IAG Wealth Partners LLC boosted its stake in shares of Toll Brothers by 1,034.8% during the fourth quarter. IAG Wealth Partners LLC now owns 261 shares of the construction company’s stock worth $33,000 after buying an additional 238 shares during the period. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Toll Brothers by 806.5% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 281 shares of the construction company’s stock worth $35,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Transactions at Toll Brothers

In related news, Director Christine Garvey sold 420 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $110.58, for a total value of $46,443.60. Following the completion of the transaction, the director now owns 13,186 shares of the company’s stock, valued at approximately $1,458,107.88. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TOL. Bank of America reduced their price objective on Toll Brothers from $156.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Oppenheimer decreased their price target on Toll Brothers from $189.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $150.00 price objective (down from $166.00) on shares of Toll Brothers in a research report on Friday, December 13th. The Goldman Sachs Group cut their price objective on shares of Toll Brothers from $143.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Finally, Citigroup dropped their price target on shares of Toll Brothers from $155.00 to $137.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.57.

Toll Brothers Trading Up 0.6 %

Shares of TOL stock opened at $105.68 on Tuesday. The stock has a market cap of $10.56 billion, a P/E ratio of 7.27, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 0.80, a current ratio of 4.65 and a debt-to-equity ratio of 0.35. Toll Brothers, Inc. has a fifty-two week low of $101.50 and a fifty-two week high of $169.52. The business has a fifty day simple moving average of $118.31 and a 200-day simple moving average of $136.16.

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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.91 billion. On average, analysts forecast that Toll Brothers, Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This is an increase from Toll Brothers’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 0.95%. Toll Brothers’s dividend payout ratio (DPR) is presently 6.88%.

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.