Pitcairn Co. Sells 673 Shares of Toll Brothers, Inc. (NYSE:TOL)

Pitcairn Co. reduced its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 17.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,184 shares of the construction company’s stock after selling 673 shares during the quarter. Pitcairn Co.’s holdings in Toll Brothers were worth $492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in Toll Brothers during the third quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Toll Brothers in the 2nd quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Toll Brothers by 114.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock valued at $31,000 after buying an additional 142 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Toll Brothers by 202.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 333 shares of the construction company’s stock worth $38,000 after buying an additional 223 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Toll Brothers by 323.4% during the third quarter. UMB Bank n.a. now owns 271 shares of the construction company’s stock worth $42,000 after acquiring an additional 207 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wedbush raised shares of Toll Brothers from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $148.00 to $175.00 in a research report on Friday, October 25th. Oppenheimer boosted their price target on Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Seaport Res Ptn cut Toll Brothers from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 4th. Royal Bank of Canada boosted 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. Finally, Wells Fargo & Company raised 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. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

Insider Buying and Selling

In related news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 296,382 shares of the company’s stock, valued at $45,361,265.10. This represents a 7.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Martin P. Connor sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $155.44, for a total transaction of $777,200.00. Following the completion of the transaction, the chief financial officer now directly owns 9,721 shares in the company, valued at approximately $1,511,032.24. This represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,673 shares of company stock valued at $19,684,387 over the last 90 days. 1.54% of the stock is owned by corporate insiders.

Toll Brothers Price Performance

Shares of Toll Brothers stock opened at $164.09 on Wednesday. The company has a 50-day simple moving average of $152.69 and a two-hundred day simple moving average of $136.85. Toll Brothers, Inc. has a twelve month low of $84.40 and a twelve month high of $169.52. The stock has a market capitalization of $16.57 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.68. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38.

Toll Brothers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.23 dividend. 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 currently 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.