American International Group Inc. reduced its position in shares of Toll Brothers Inc (NYSE:TOL) by 5.4% during the 1st quarter, HoldingsChannel reports. The fund owned 268,086 shares of the construction company’s stock after selling 15,443 shares during the period. American International Group Inc.’s holdings in Toll Brothers were worth $9,705,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of TOL. Boston Partners purchased a new stake in shares of Toll Brothers during the 4th quarter worth about $116,690,000. Massachusetts Financial Services Co. MA raised its position in shares of Toll Brothers by 259.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,688,545 shares of the construction company’s stock worth $154,394,000 after purchasing an additional 3,384,353 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Toll Brothers by 1,967.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,765,805 shares of the construction company’s stock worth $54,000 after purchasing an additional 1,680,413 shares during the last quarter. Norges Bank acquired a new position in shares of Toll Brothers during the 4th quarter worth about $55,091,000. Finally, Lakewood Capital Management LP acquired a new position in shares of Toll Brothers during the 4th quarter worth about $24,877,000. 81.59% of the stock is currently owned by institutional investors and hedge funds.
TOL stock opened at $38.42 on Monday. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 1.01 and a beta of 1.01. The company has a debt-to-equity ratio of 0.74, a current ratio of 7.74 and a quick ratio of 1.21. Toll Brothers Inc has a 12 month low of $28.68 and a 12 month high of $43.83.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.44 dividend on an annualized basis and a yield of 1.15%. Toll Brothers’s payout ratio is 9.34%.
Several research firms recently weighed in on TOL. ValuEngine upgraded shares of Toll Brothers from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Wednesday, February 13th. Barclays set a $33.00 price objective on shares of Toll Brothers and gave the company a “sell” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. downgraded shares of Toll Brothers from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $33.00 to $32.00 in a report on Thursday, March 7th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $37.00 price objective on shares of Toll Brothers in a report on Friday, February 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.14.
In other news, President Richard T. Hartman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $37.18, for a total transaction of $371,800.00. Following the completion of the sale, the president now owns 76,461 shares in the company, valued at approximately $2,842,819.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin P. Connor sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $37.94, for a total transaction of $151,760.00. Following the sale, the chief financial officer now owns 72,504 shares of the company’s stock, valued at approximately $2,750,801.76. The disclosure for this sale can be found here. Insiders have sold a total of 18,000 shares of company stock valued at $679,320 in the last 90 days. Insiders own 9.69% of the company’s stock.
Toll Brothers Profile
Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and City Living. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.
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