Toll Brothers Inc. $TOL Stake Lowered by Swiss National Bank

Swiss National Bank cut its stake in Toll Brothers Inc. (NYSE:TOL) by 2.0% during the second quarter, HoldingsChannel reports. The fund owned 189,900 shares of the construction company’s stock after selling 3,900 shares during the quarter. Swiss National Bank’s holdings in Toll Brothers were worth $21,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group grew its stake in Toll Brothers by 52.8% in the first quarter. Brooklyn Investment Group now owns 272 shares of the construction company’s stock valued at $29,000 after purchasing an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Toll Brothers by 128.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 324 shares of the construction company’s stock worth $37,000 after purchasing an additional 182 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Toll Brothers by 218.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company’s stock valued at $38,000 after buying an additional 249 shares during the last quarter. Operose Advisors LLC bought a new stake in shares of Toll Brothers in the 1st quarter valued at approximately $42,000. Finally, Pinnacle Holdings LLC increased its holdings in Toll Brothers by 136.0% in the first quarter. Pinnacle Holdings LLC now owns 472 shares of the construction company’s stock worth $50,000 after buying an additional 272 shares during the last quarter. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Toll Brothers Stock Performance

NYSE:TOL opened at $138.56 on Wednesday. The firm has a market capitalization of $13.35 billion, a PE ratio of 10.18, a PEG ratio of 1.60 and a beta of 1.37. Toll Brothers Inc. has a 1 year low of $86.67 and a 1 year high of $168.17. The company has a current ratio of 4.38, a quick ratio of 0.51 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $134.64 and its 200 day simple moving average is $125.67.

Toll Brothers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, October 10th. Toll Brothers’s payout ratio is currently 7.35%.

Insider Activity at Toll Brothers

In related news, Director Paul E. Shapiro sold 3,812 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $147.65, for a total transaction of $562,841.80. Following the completion of the sale, the director owned 118,753 shares in the company, valued at $17,533,880.45. This represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of Toll Brothers stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $138.26, for a total value of $3,456,500.00. Following the completion of the transaction, the chief executive officer directly owned 286,117 shares in the company, valued at approximately $39,558,536.42. This represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Argus lifted their target price on shares of Toll Brothers from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Citigroup raised their price target on shares of Toll Brothers from $138.00 to $147.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. Wedbush reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of Toll Brothers in a research note on Thursday, September 18th. Keefe, Bruyette & Woods increased their target price on shares of Toll Brothers from $143.00 to $145.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Finally, Bank of America cut their target price on Toll Brothers from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $149.43.

About Toll Brothers

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.