Fisher Asset Management LLC Reduces Stake in Toll Brothers, Inc. (NYSE:TOL)

Fisher Asset Management LLC lowered its stake in Toll Brothers, Inc. (NYSE:TOL) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,722 shares of the construction company’s stock after selling 26,893 shares during the quarter. Fisher Asset Management LLC’s holdings in Toll Brothers were worth $26,697,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Voss Capital LLC purchased a new stake in shares of Toll Brothers in the fourth quarter worth about $8,223,000. Jennison Associates LLC increased its holdings in Toll Brothers by 41.2% during the 4th quarter. Jennison Associates LLC now owns 834,899 shares of the construction company’s stock worth $85,819,000 after acquiring an additional 243,553 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in Toll Brothers by 87.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 36,337 shares of the construction company’s stock worth $2,687,000 after purchasing an additional 16,993 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Toll Brothers by 11.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 510,961 shares of the construction company’s stock valued at $52,522,000 after purchasing an additional 54,384 shares during the period. Finally, Natixis Advisors L.P. grew its position in shares of Toll Brothers by 21.6% during the 3rd quarter. Natixis Advisors L.P. now owns 13,429 shares of the construction company’s stock valued at $993,000 after purchasing an additional 2,386 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Activity

In related news, CEO Douglas C. Jr. Yearley sold 50,000 shares of Toll Brothers stock in a transaction on Monday, March 4th. The shares were sold at an average price of $118.85, for a total value of $5,942,500.00. Following the transaction, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at $41,167,500.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Douglas C. Jr. Yearley sold 50,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $118.85, for a total transaction of $5,942,500.00. Following the completion of the sale, the chief executive officer now directly owns 346,382 shares in the company, valued at $41,167,500.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carl B. Marbach sold 10,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $118.02, for a total value of $1,180,200.00. Following the transaction, the director now owns 34,069 shares in the company, valued at approximately $4,020,823.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,500 shares of company stock valued at $7,881,930. 1.54% of the stock is currently owned by company insiders.

Toll Brothers Price Performance

Shares of NYSE:TOL opened at $123.63 on Friday. The company has a quick ratio of 0.65, a current ratio of 4.95 and a debt-to-equity ratio of 0.39. The stock has a market cap of $12.88 billion, a PE ratio of 9.55, a PEG ratio of 1.03 and a beta of 1.67. The company’s fifty day moving average is $120.36 and its 200 day moving average is $102.42. Toll Brothers, Inc. has a 52 week low of $62.26 and a 52 week high of $130.63.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.48. Toll Brothers had a return on equity of 21.04% and a net margin of 13.97%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the firm earned $1.70 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts anticipate that Toll Brothers, Inc. will post 13.71 earnings per share for the current year.

Toll Brothers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were given a $0.23 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.92 annualized dividend and a yield of 0.74%. This is an increase from Toll Brothers’s previous quarterly dividend of $0.21. Toll Brothers’s payout ratio is presently 7.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Oppenheimer increased their price objective on Toll Brothers from $141.00 to $157.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. The Goldman Sachs Group raised their price target on Toll Brothers from $94.00 to $96.00 and gave the company a “sell” rating in a report on Thursday, February 22nd. Barclays boosted their price objective on Toll Brothers from $95.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. Citigroup upped their price objective on shares of Toll Brothers from $116.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Wolfe Research upgraded shares of Toll Brothers from a “peer perform” rating to an “outperform” rating and set a $118.00 target price for the company in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.80.

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.