Daiwa Securities Group Inc. Acquires 6,900 Shares of Toll Brothers, Inc. (NYSE:TOL)

Daiwa Securities Group Inc. lifted its position in Toll Brothers, Inc. (NYSE:TOL) by 135.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,000 shares of the construction company’s stock after purchasing an additional 6,900 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Toll Brothers were worth $1,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenhaven Associates Inc. boosted its holdings in shares of Toll Brothers by 1.0% in the 2nd quarter. Greenhaven Associates Inc. now owns 5,565,787 shares of the construction company’s stock worth $641,067,000 after purchasing an additional 52,893 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Toll Brothers by 34.8% in the 2nd quarter. Pacer Advisors Inc. now owns 2,095,673 shares of the construction company’s stock worth $241,380,000 after purchasing an additional 541,140 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Toll Brothers by 81.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock worth $110,993,000 after purchasing an additional 431,160 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Toll Brothers by 35.1% in the 3rd quarter. Jennison Associates LLC now owns 884,291 shares of the construction company’s stock worth $136,614,000 after purchasing an additional 229,603 shares in the last quarter. Finally, Marsico Capital Management LLC boosted 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 worth $86,983,000 after purchasing an additional 148,562 shares in the last quarter. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Toll Brothers

In other news, Director John A. Mclean sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $151.10, for a total value of $151,100.00. Following the completion of the transaction, the director now owns 9,944 shares of the company’s stock, valued at approximately $1,502,538.40. This represents a 9.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 50,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $154.51, for a total value of $7,725,500.00. Following the completion of the transaction, the chief executive officer now directly owns 246,382 shares of the company’s stock, valued at $38,068,482.82. This represents a 16.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,000 shares of company stock valued at $16,435,800. Corporate insiders own 1.54% of the company’s stock.

Toll Brothers Trading Up 0.4 %

NYSE TOL opened at $164.75 on Friday. Toll Brothers, Inc. has a fifty-two week low of $84.40 and a fifty-two week high of $169.52. The stock has a market cap of $16.63 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 1.26 and a beta of 1.68. The stock has a 50 day simple moving average of $153.22 and a two-hundred day simple moving average of $137.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given 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 is currently 6.34%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TOL. Oppenheimer upped their price objective on Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $142.00 target price on shares of Toll Brothers in a report on Wednesday, August 21st. Barclays increased their target price on Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Seaport Res Ptn cut Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Finally, StockNews.com cut Toll Brothers from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.87.

Toll Brothers Profile

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.