Toll Brothers, Inc. (NYSE:TOL) Shares Sold by MAI Capital Management

MAI Capital Management lowered its stake in shares of Toll Brothers, Inc. (NYSE:TOL) by 8.6% in the third quarter, HoldingsChannel reports. The firm owned 31,140 shares of the construction company’s stock after selling 2,917 shares during the quarter. MAI Capital Management’s holdings in Toll Brothers were worth $4,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Greenhaven Associates Inc. boosted its holdings 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 valued at $641,067,000 after acquiring an additional 52,893 shares during the period. Pacer Advisors Inc. boosted 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 purchasing an additional 541,140 shares during the period. Point72 Asset Management L.P. grew its position in Toll Brothers by 81.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock worth $110,993,000 after purchasing an additional 431,160 shares during the last quarter. Marsico Capital Management LLC increased its stake 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. Finally, Victory Capital Management Inc. raised its holdings in shares of Toll Brothers by 18.8% during the third quarter. Victory Capital Management Inc. now owns 493,216 shares of the construction company’s stock valued at $76,197,000 after buying an additional 78,068 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors.

Toll Brothers Price Performance

NYSE TOL opened at $151.83 on Wednesday. Toll Brothers, Inc. has a 1 year low of $84.40 and a 1 year high of $160.12. The business’s fifty day moving average is $151.27 and its two-hundred day moving average is $135.51. The stock has a market capitalization of $15.33 billion, a P/E ratio of 10.46, a P/E/G ratio of 1.14 and a beta of 1.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the firm earned $3.73 earnings per share. Toll Brothers’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts forecast that Toll Brothers, Inc. will post 13.53 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.92 annualized dividend and a yield of 0.61%. Toll Brothers’s payout ratio is presently 6.34%.

Insider Buying and Selling at Toll Brothers

In other news, CFO Martin P. Connor sold 5,000 shares of Toll Brothers stock in a transaction on Friday, September 27th. The stock was sold at an average price of $155.44, for a total transaction of $777,200.00. Following the transaction, the chief financial officer now owns 9,721 shares in the company, valued at approximately $1,511,032.24. The trade was a 33.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total value of $12,917,764.16. Following the transaction, the chief executive officer now directly owns 346,382 shares in the company, valued at $51,087,881.18. The trade was a 20.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,257 shares of company stock valued at $32,602,152. 1.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on TOL. Seaport Res Ptn lowered Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $142.00 price target on shares of Toll Brothers in a research note on Wednesday, August 21st. Oppenheimer upped their price objective on shares of Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised their target price on shares of Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Wedbush raised shares of Toll Brothers from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $148.00 to $175.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

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.