CIBC Private Wealth Group LLC Sells 557,027 Shares of Toll Brothers, Inc. (NYSE:TOL)

CIBC Private Wealth Group LLC reduced its position in Toll Brothers, Inc. (NYSE:TOL) by 98.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,333 shares of the construction company’s stock after selling 557,027 shares during the period. CIBC Private Wealth Group LLC’s holdings in Toll Brothers were worth $804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in Toll Brothers by 1.2% in the third quarter. State Street Corp now owns 3,662,387 shares of the construction company’s stock worth $565,802,000 after purchasing an additional 42,871 shares during the last quarter. Geode Capital Management LLC grew its stake in Toll Brothers by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,157,908 shares of the construction company’s stock worth $333,444,000 after buying an additional 84,652 shares during the last quarter. Jennison Associates LLC increased its position in Toll Brothers by 38.7% during the 4th quarter. Jennison Associates LLC now owns 1,226,271 shares of the construction company’s stock valued at $154,449,000 after buying an additional 341,980 shares in the last quarter. Norges Bank purchased a new stake in Toll Brothers in the fourth quarter valued at about $149,924,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Toll Brothers by 21.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 784,412 shares of the construction company’s stock worth $98,797,000 after acquiring an additional 140,133 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Activity

In other Toll Brothers news, Director Christine Garvey sold 420 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $110.58, for a total transaction of $46,443.60. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.54% of the company’s stock.

Toll Brothers Stock Up 2.4 %

TOL stock opened at $100.73 on Friday. Toll Brothers, Inc. has a one year low of $95.00 and a one year high of $169.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 4.65. The firm’s fifty day moving average is $115.67 and its 200 day moving average is $135.04. The firm has a market cap of $10.06 billion, a PE ratio of 6.93, a P/E/G ratio of 1.02 and a beta of 1.48.

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

Toll Brothers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. This is an increase from Toll Brothers’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, April 11th. Toll Brothers’s dividend payout ratio is presently 6.88%.

Wall Street Analyst Weigh In

TOL has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective on shares of Toll Brothers from $142.00 to $139.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $150.00 price target (down previously from $166.00) on shares of Toll Brothers in a report on Friday, December 13th. Barclays cut their target price on Toll Brothers from $115.00 to $101.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 25th. UBS Group reduced their target price on Toll Brothers from $185.00 to $183.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Wells Fargo & Company cut their price objective on Toll Brothers from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.57.

Toll Brothers Company 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.