Highland Capital Management LLC Cuts Stock Position in Toll Brothers, Inc. (NYSE:TOL)

Highland Capital Management LLC lowered its holdings in Toll Brothers, Inc. (NYSE:TOL) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,410 shares of the construction company’s stock after selling 650 shares during the period. Highland Capital Management LLC’s holdings in Toll Brothers were worth $4,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in shares of Toll Brothers by 4.5% in the second quarter. Envestnet Asset Management Inc. now owns 27,243 shares of the construction company’s stock valued at $3,138,000 after buying an additional 1,162 shares during the period. Creative Planning raised its stake in shares of Toll Brothers by 14.1% in the second quarter. Creative Planning now owns 9,260 shares of the construction company’s stock valued at $1,067,000 after buying an additional 1,147 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Toll Brothers by 22.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,569 shares of the construction company’s stock valued at $181,000 after buying an additional 290 shares during the period. Quarry LP bought a new stake in shares of Toll Brothers in the second quarter valued at $91,000. Finally, Cetera Investment Advisers raised its stake in shares of Toll Brothers by 19.1% in the second quarter. Cetera Investment Advisers now owns 27,000 shares of the construction company’s stock valued at $3,110,000 after buying an additional 4,336 shares during the period. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TOL. UBS Group lowered their target price on Toll Brothers from $192.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Barclays decreased their price objective on Toll Brothers from $135.00 to $115.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Royal Bank of Canada boosted their price objective on Toll Brothers from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Citigroup decreased their price objective on Toll Brothers from $155.00 to $137.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America decreased their price objective on Toll Brothers from $165.00 to $156.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.00.

Insider Buying and Selling at Toll Brothers

In other news, CFO Martin P. Connor sold 11,140 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $126.07, for a total value of $1,404,419.80. Following the completion of the transaction, the chief financial officer now owns 20,618 shares of the company’s stock, valued at approximately $2,599,311.26. This represents a 35.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul E. Shapiro sold 3,837 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $134.14, for a total value of $514,695.18. Following the transaction, the director now directly owns 119,937 shares of the company’s stock, valued at approximately $16,088,349.18. This trade represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,202 shares of company stock valued at $1,947,436 in the last 90 days. Insiders own 1.54% of the company’s stock.

Toll Brothers Price Performance

TOL opened at $135.78 on Thursday. The stock has a 50-day moving average price of $138.97 and a 200-day moving average price of $142.37. Toll Brothers, Inc. has a 12-month low of $97.45 and a 12-month high of $169.52. The company has a current ratio of 4.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $13.58 billion, a P/E ratio of 9.03, a PEG ratio of 1.04 and a beta of 1.74.

Toll Brothers (NYSE:TOL) last issued its earnings results on Monday, December 9th. The construction company reported $4.63 earnings per share for the quarter, beating the consensus estimate of $4.34 by $0.29. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Toll Brothers had a return on equity of 19.64% and a net margin of 14.48%. Toll Brothers’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.11 EPS. Equities analysts predict that Toll Brothers, Inc. will post 14.25 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 10th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, January 10th. Toll Brothers’s payout ratio is 6.12%.

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.