Canada Pension Plan Investment Board Lowers Stake in Toll Brothers, Inc. (NYSE:TOL)

Canada Pension Plan Investment Board lessened its stake in Toll Brothers, Inc. (NYSE:TOL) by 9.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,100 shares of the construction company’s stock after selling 10,600 shares during the period. Canada Pension Plan Investment Board owned 0.10% of Toll Brothers worth $11,645,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Toll Brothers by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 11,268,164 shares of the construction company’s stock valued at $1,158,255,000 after purchasing an additional 216,849 shares in the last quarter. Bank of Nova Scotia bought a new position in Toll Brothers during the 4th quarter worth about $18,792,000. Anchor Capital Advisors LLC purchased a new position in Toll Brothers during the 2nd quarter valued at about $17,740,000. Marsico Capital Management LLC raised its holdings in shares of Toll Brothers by 24.5% in the 2nd quarter. Marsico Capital Management LLC now owns 755,190 shares of the construction company’s stock valued at $86,983,000 after purchasing an additional 148,562 shares in the last quarter. Finally, Interval Partners LP lifted its position in shares of Toll Brothers by 842.9% in the 1st quarter. Interval Partners LP now owns 147,623 shares of the construction company’s stock worth $19,098,000 after purchasing an additional 131,966 shares during the period. Institutional investors own 91.76% of the company’s stock.

Analyst Upgrades and Downgrades

TOL has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Toll Brothers from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada raised their price objective on Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company boosted their target price on shares of Toll Brothers from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Wedbush raised their price target on shares of Toll Brothers from $120.00 to $148.00 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Finally, Citigroup reduced their price objective on shares of Toll Brothers from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toll Brothers has an average rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Transactions at Toll Brothers

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total value of $12,917,764.16. Following the sale, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at $51,087,881.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Douglas C. Jr. Yearley sold 25,000 shares of Toll Brothers stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $153.05, for a total transaction of $3,826,250.00. Following the completion of the transaction, the chief executive officer now directly owns 296,382 shares of the company’s stock, valued at approximately $45,361,265.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the sale, the chief executive officer now directly owns 346,382 shares in the company, valued at $51,087,881.18. The disclosure for this sale can be found here. Insiders have sold 135,257 shares of company stock worth $19,992,602 over the last 90 days. 1.54% of the stock is currently owned by company insiders.

Toll Brothers Price Performance

Shares of TOL opened at $153.50 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57. The company’s fifty day moving average price is $138.23 and its 200-day moving average price is $126.87. Toll Brothers, Inc. has a 1-year low of $68.08 and a 1-year high of $154.62. The firm has a market capitalization of $15.76 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, August 20th. The construction company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.29. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.73 earnings per share. On average, equities research analysts predict that Toll Brothers, Inc. will post 13.31 EPS for the current year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Friday, October 11th. Toll Brothers’s dividend payout ratio (DPR) is currently 6.28%.

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.