Arizona State Retirement System Sells 254 Shares of Toll Brothers, Inc. (NYSE:TOL)

Arizona State Retirement System cut its stake in Toll Brothers, Inc. (NYSE:TOL) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,304 shares of the construction company’s stock after selling 254 shares during the quarter. Arizona State Retirement System’s holdings in Toll Brothers were worth $3,691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in shares of Toll Brothers by 97.7% during the third quarter. FMR LLC now owns 2,118,459 shares of the construction company’s stock valued at $327,281,000 after buying an additional 1,046,758 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Toll Brothers during the 3rd quarter worth approximately $111,562,000. Jennison Associates LLC grew its holdings in shares of Toll Brothers by 38.7% during the 4th quarter. Jennison Associates LLC now owns 1,226,271 shares of the construction company’s stock worth $154,449,000 after acquiring an additional 341,980 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Toll Brothers in the 3rd quarter worth approximately $38,985,000. Finally, Empowered Funds LLC lifted its stake in shares of Toll Brothers by 228.1% in the 4th quarter. Empowered Funds LLC now owns 232,180 shares of the construction company’s stock valued at $29,243,000 after purchasing an additional 161,408 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TOL shares. StockNews.com cut Toll Brothers from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Barclays reduced their target price on shares of Toll Brothers from $115.00 to $101.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 25th. Seaport Res Ptn raised shares of Toll Brothers from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. Oppenheimer cut their price objective on shares of Toll Brothers from $189.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, Wells Fargo & Company decreased their target price on shares of Toll Brothers from $170.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Toll Brothers presently has a consensus rating of “Moderate Buy” and an average target price of $147.57.

Toll Brothers Price Performance

Shares of NYSE TOL opened at $109.40 on Monday. The company has a 50 day moving average of $125.14 and a 200 day moving average of $140.11. The company has a quick ratio of 0.80, a current ratio of 4.65 and a debt-to-equity ratio of 0.35. Toll Brothers, Inc. has a twelve month low of $105.73 and a twelve month high of $169.52. The firm has a market cap of $10.88 billion, a P/E ratio of 7.53, a PEG ratio of 1.02 and a beta of 1.77.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, research analysts expect that Toll Brothers, Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 10th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, January 10th. Toll Brothers’s payout ratio is presently 6.33%.

Insider Transactions at Toll Brothers

In other news, CFO Martin P. Connor sold 11,140 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $126.07, for a total transaction of $1,404,419.80. Following the transaction, the chief financial officer now directly owns 20,618 shares of the company’s stock, valued at $2,599,311.26. This represents a 35.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christine Garvey sold 204 shares of Toll Brothers stock in a transaction on Monday, December 30th. The stock was sold at an average price of $125.78, for a total value of $25,659.12. Following the completion of the sale, the director now directly owns 7,728 shares of the company’s stock, valued at $972,027.84. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,622 shares of company stock worth $1,993,880 over the last three months. 1.54% of the stock is currently owned by company insiders.

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.