Toll Brothers Inc (TOL) Holdings Increased by New York State Common Retirement Fund
New York State Common Retirement Fund raised its position in Toll Brothers Inc (NYSE:TOL) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 364,515 shares of the construction company’s stock after acquiring an additional 5,500 shares during the quarter. New York State Common Retirement Fund owned approximately 0.22% of Toll Brothers worth $15,116,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of TOL. Koch Industries Inc. acquired a new stake in shares of Toll Brothers during the 2nd quarter worth about $1,177,000. FMR LLC lifted its stake in shares of Toll Brothers by 13.4% during the 2nd quarter. FMR LLC now owns 9,042,726 shares of the construction company’s stock worth $357,278,000 after buying an additional 1,067,193 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Toll Brothers during the 3rd quarter worth about $36,566,000. Prudential Financial Inc. lifted its stake in shares of Toll Brothers by 42.9% during the 2nd quarter. Prudential Financial Inc. now owns 1,433,541 shares of the construction company’s stock worth $56,639,000 after buying an additional 430,220 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Toll Brothers by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,540,189 shares of the construction company’s stock worth $495,464,000 after buying an additional 323,334 shares during the last quarter. Institutional investors own 82.52% of the company’s stock.
Toll Brothers Inc (NYSE:TOL) traded up $0.60 during trading hours on Friday, reaching $47.70. 5,000,000 shares of the company were exchanged, compared to its average volume of 2,911,328. Toll Brothers Inc has a 1-year low of $30.44 and a 1-year high of $51.08. The company has a market capitalization of $7,802.53, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.57. The company has a current ratio of 6.61, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Thursday, January 11th. Toll Brothers’s dividend payout ratio is 10.03%.
In related news, Director Richard J. Braemer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $46.55, for a total transaction of $931,000.00. Following the transaction, the director now directly owns 82,873 shares of the company’s stock, valued at $3,857,738.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Richard T. Hartman sold 8,537 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $46.00, for a total transaction of $392,702.00. Following the transaction, the president now directly owns 27,233 shares in the company, valued at $1,252,718. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,787 shares of company stock worth $3,255,777. 8.78% of the stock is owned by insiders.
TOL has been the subject of a number of research reports. Royal Bank of Canada restated a “buy” rating and set a $45.00 target price on shares of Toll Brothers in a research note on Wednesday, November 15th. J P Morgan Chase & Co cut shares of Toll Brothers from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $41.00 to $45.00 in a research note on Thursday, September 14th. Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 target price on shares of Toll Brothers in a research note on Friday, October 20th. Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Tuesday, October 10th. Finally, BidaskClub cut shares of Toll Brothers from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $46.93.
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Toll Brothers Profile
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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