State of Michigan Retirement System Reduces Holdings in Toll Brothers, Inc. (NYSE:TOL)

State of Michigan Retirement System decreased its position in Toll Brothers, Inc. (NYSE:TOL) by 0.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 25,626 shares of the construction company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Toll Brothers were worth $3,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Toll Brothers by 13.8% in the first quarter. GAMMA Investing LLC now owns 873 shares of the construction company’s stock worth $113,000 after purchasing an additional 106 shares during the last quarter. Baker Avenue Asset Management LP increased its position in shares of Toll Brothers by 23.1% during the third quarter. Baker Avenue Asset Management LP now owns 677 shares of the construction company’s stock valued at $50,000 after buying an additional 127 shares during the period. Cannell & Co. lifted its holdings in Toll Brothers by 3.0% in the fourth quarter. Cannell & Co. now owns 6,850 shares of the construction company’s stock worth $704,000 after buying an additional 200 shares during the period. Register Financial Advisors LLC purchased a new position in shares of Toll Brothers during the 1st quarter worth approximately $26,000. Finally, National Bank of Canada FI raised its position in shares of Toll Brothers by 0.5% in the 4th quarter. National Bank of Canada FI now owns 41,463 shares of the construction company’s stock worth $4,177,000 after acquiring an additional 221 shares in the last quarter. Institutional investors own 91.76% of the company’s stock.

Toll Brothers Trading Down 1.0 %

Shares of NYSE TOL opened at $111.23 on Wednesday. The business’s 50 day moving average price is $121.02 and its 200-day moving average price is $114.04. Toll Brothers, Inc. has a fifty-two week low of $68.08 and a fifty-two week high of $135.37. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.69 and a current ratio of 4.59. The company has a market cap of $11.42 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 0.94 and a beta of 1.67.

Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, May 21st. The construction company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.13 by ($0.75). Toll Brothers had a return on equity of 20.91% and a net margin of 15.07%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company posted $2.85 earnings per share. Toll Brothers’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts expect that Toll Brothers, Inc. will post 12.94 earnings per share for the current year.

Toll Brothers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, July 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.83%. Toll Brothers’s payout ratio is 6.28%.

Insiders Place Their Bets

In related news, CFO Martin P. Connor sold 3,806 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $121.84, for a total value of $463,723.04. Following the completion of the transaction, the chief financial officer now owns 24,721 shares in the company, valued at approximately $3,012,006.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Martin P. Connor sold 3,806 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $121.84, for a total transaction of $463,723.04. Following the sale, the chief financial officer now directly owns 24,721 shares of the company’s stock, valued at $3,012,006.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen F. East sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $119.32, for a total value of $178,980.00. Following the completion of the transaction, the director now directly owns 9,389 shares of the company’s stock, valued at $1,120,295.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,670 shares of company stock valued at $2,586,315. Insiders own 1.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TOL. Citigroup dropped their price target on Toll Brothers from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wells Fargo & Company lifted their price target on shares of Toll Brothers from $142.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. StockNews.com upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada boosted their price target on Toll Brothers from $122.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $105.00 price objective on shares of Toll Brothers in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Toll Brothers presently has a consensus rating of “Moderate Buy” and an average target price of $128.13.

Toll Brothers 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.