Toll Brothers, Inc. (NYSE:TOL) Sees Large Drop in Short Interest

Toll Brothers, Inc. (NYSE:TOL) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 2,580,000 shares, a decrease of 16.5% from the October 31st total of 3,090,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is currently 2.1 days.

Analyst Ratings Changes

Several analysts have issued reports on TOL shares. Wells Fargo & Company boosted their price target on Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Royal Bank of Canada lifted their target price on Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $142.00 target price on shares of Toll Brothers in a report on Wednesday, August 21st. Seaport Res Ptn lowered Toll Brothers from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 4th. Finally, Oppenheimer lifted their target price on Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Toll Brothers has an average rating of “Moderate Buy” and an average price target of $148.87.

Insiders Place Their Bets

In related news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the completion of the transaction, the chief executive officer now owns 221,382 shares in the company, valued at approximately $35,029,273.86. This represents a 10.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Mclean sold 1,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $151.10, for a total transaction of $151,100.00. Following the completion of the transaction, the director now directly owns 9,944 shares in the company, valued at approximately $1,502,538.40. The trade was a 9.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,000 shares of company stock worth $16,435,800 over the last ninety days. Corporate insiders own 1.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TOL. Capital Performance Advisors LLP purchased a new stake in shares of Toll Brothers in the 3rd quarter worth about $27,000. Brooklyn Investment Group acquired a new stake in Toll Brothers in the 3rd quarter worth about $27,000. Larson Financial Group LLC boosted its position in shares of Toll Brothers by 57.9% in the third quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock worth $28,000 after acquiring an additional 66 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toll Brothers during the second quarter worth approximately $29,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in Toll Brothers by 114.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock worth $31,000 after purchasing an additional 142 shares during the period. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Toll Brothers Stock Performance

Shares of TOL opened at $165.17 on Monday. The stock has a 50 day moving average price of $153.52 and a 200 day moving average price of $137.60. Toll Brothers has a 52-week low of $84.66 and a 52-week high of $169.52. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68.

Toll Brothers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, October 11th. Toll Brothers’s dividend payout ratio (DPR) is presently 6.34%.

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.