New York State Common Retirement Fund Sells 3,435 Shares of Toll Brothers, Inc. (NYSE:TOL)

New York State Common Retirement Fund reduced its position in shares of Toll Brothers, Inc. (NYSE:TOL) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,718 shares of the construction company’s stock after selling 3,435 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Toll Brothers worth $7,773,000 at the end of the most recent reporting period.

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

Toll Brothers Trading Down 1.8 %

Shares of Toll Brothers stock opened at $112.55 on Thursday. 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 12-month low of $108.86 and a 12-month high of $169.52. The company has a market capitalization of $11.24 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 1.02 and a beta of 1.76. The firm’s 50-day moving average price is $127.73 and its two-hundred day moving average price is $141.29.

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

Toll Brothers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 10th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, January 10th. Toll Brothers’s dividend payout ratio is presently 6.33%.

Insider Activity

In related news, Director Christine Garvey sold 204 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $125.78, for a total value of $25,659.12. Following the completion of the transaction, the director now owns 7,728 shares of the company’s stock, valued at $972,027.84. This represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul E. Shapiro sold 3,837 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $134.14, for a total transaction of $514,695.18. Following the sale, the director now directly owns 119,937 shares in the company, valued at approximately $16,088,349.18. The trade was a 3.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,622 shares of company stock worth $1,993,880. Insiders own 1.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TOL shares. Bank of America lowered their price target on shares of Toll Brothers from $156.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada dropped their price target on Toll Brothers from $142.00 to $139.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. UBS Group decreased their price objective on Toll Brothers from $185.00 to $183.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Citigroup lowered their price objective on Toll Brothers from $155.00 to $137.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Barclays reduced their target price on shares of Toll Brothers from $115.00 to $101.00 and set an “underweight” rating for the company in a research report on Tuesday. One equities research 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. Based on data from MarketBeat, Toll Brothers has an average rating of “Moderate Buy” and an average target price of $147.57.

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.