Prudential Financial Inc. lessened its holdings in Toll Brothers, Inc. (NYSE:TOL – Free Report) by 58.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,984 shares of the construction company’s stock after selling 17,027 shares during the quarter. Prudential Financial Inc.’s holdings in Toll Brothers were worth $1,509,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Jackson Hill Advisors LLC lifted its position in Toll Brothers by 9.8% in the fourth quarter. Jackson Hill Advisors LLC now owns 95,000 shares of the construction company’s stock valued at $11,965,000 after purchasing an additional 8,500 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Toll Brothers during the 4th quarter valued at $3,111,000. Lee Danner & Bass Inc. purchased a new stake in Toll Brothers during the 4th quarter valued at $27,000. Blueshift Asset Management LLC bought a new stake in Toll Brothers in the 4th quarter worth $460,000. Finally, Xponance Inc. increased its position in shares of Toll Brothers by 5.4% in the fourth quarter. Xponance Inc. now owns 11,689 shares of the construction company’s stock valued at $1,472,000 after acquiring an additional 594 shares during the period. 91.76% of the stock is owned by institutional investors.
Insider Activity at Toll Brothers
In related news, Director Christine Garvey sold 420 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $110.58, for a total transaction of $46,443.60. Following the sale, the director now directly owns 13,186 shares of the company’s stock, valued at $1,458,107.88. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.54% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts have recently weighed in on TOL shares. Bank of America dropped their target price on shares of Toll Brothers from $156.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Wedbush reissued an “outperform” rating and set a $175.00 target price on shares of Toll Brothers in a research note on Friday, February 14th. Evercore ISI raised their price target on Toll Brothers from $181.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Oppenheimer reduced 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. Finally, StockNews.com raised shares of Toll Brothers from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Toll Brothers presently has an average rating of “Moderate Buy” and a consensus target price of $147.57.
Get Our Latest Report on Toll Brothers
Toll Brothers Stock Up 2.4 %
TOL stock opened at $100.73 on Friday. The company has a quick ratio of 0.80, a current ratio of 4.65 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $115.67 and a 200 day moving average of $134.93. Toll Brothers, Inc. has a twelve month low of $95.00 and a twelve month high of $169.52. The firm has a market cap of $10.06 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 1.02 and a beta of 1.48.
Toll Brothers (NYSE:TOL – Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.24). Toll Brothers had a return on equity of 18.32% and a net margin of 14.03%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.91 billion. On average, research analysts forecast that Toll Brothers, Inc. will post 13.83 EPS for the current fiscal year.
Toll Brothers Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.99%. Toll Brothers’s dividend payout ratio is presently 6.88%.
About Toll Brothers
(Free Report)
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.
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