Norges Bank Invests $128.98 Million in Toll Brothers, Inc. (NYSE:TOL)

Norges Bank acquired a new position in Toll Brothers, Inc. (NYSE:TOL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,254,806 shares of the construction company’s stock, valued at approximately $128,982,000. Norges Bank owned approximately 1.20% of Toll Brothers at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Toll Brothers by 70.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,947 shares of the construction company’s stock valued at $366,000 after buying an additional 2,052 shares during the period. Fifth Third Bancorp grew its stake in shares of Toll Brothers by 26.1% in the 3rd quarter. Fifth Third Bancorp now owns 754 shares of the construction company’s stock valued at $56,000 after buying an additional 156 shares during the period. M&T Bank Corp grew its stake in shares of Toll Brothers by 1.6% in the 3rd quarter. M&T Bank Corp now owns 14,048 shares of the construction company’s stock valued at $1,039,000 after buying an additional 226 shares during the period. Principal Financial Group Inc. grew its stake in shares of Toll Brothers by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 404,779 shares of the construction company’s stock valued at $29,937,000 after buying an additional 16,187 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Toll Brothers by 11.6% in the 3rd quarter. California Public Employees Retirement System now owns 222,886 shares of the construction company’s stock valued at $16,485,000 after buying an additional 23,251 shares during the period. 91.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Martin P. Connor sold 5,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $116.05, for a total value of $580,250.00. Following the completion of the transaction, the chief financial officer now directly owns 49,721 shares in the company, valued at $5,770,122.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Carl B. Marbach sold 10,000 shares of the 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 completion of the transaction, the director now directly owns 34,069 shares of the company’s stock, valued at $4,020,823.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Martin P. Connor sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $116.05, for a total transaction of $580,250.00. Following the completion of the transaction, the chief financial officer now directly owns 49,721 shares of the company’s stock, valued at $5,770,122.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,500 shares of company stock worth $7,881,930. Corporate insiders own 1.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TOL. Raymond James restated a “strong-buy” rating and issued a $145.00 target price (up from $135.00) on shares of Toll Brothers in a research note on Thursday. Royal Bank of Canada lifted their price target on Toll Brothers from $122.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays lifted their price target on Toll Brothers from $95.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. Keefe, Bruyette & Woods lifted their price target on Toll Brothers from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, Wedbush restated a “neutral” rating and issued a $105.00 target price on shares of Toll Brothers in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.07.

Toll Brothers Trading Up 0.3 %

Shares of TOL stock opened at $119.59 on Friday. The company’s fifty day simple moving average is $123.16 and its two-hundred day simple moving average is $107.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.59 and a quick ratio of 0.65. Toll Brothers, Inc. has a 1 year low of $64.40 and a 1 year high of $135.37. The stock has a market capitalization of $12.46 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 0.97 and a beta of 1.67.

Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, May 21st. The construction company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.13 by ($0.75). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.58 billion. Toll Brothers had a return on equity of 20.91% and a net margin of 15.07%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.85 EPS. As a group, analysts anticipate that Toll Brothers, Inc. will post 14 earnings per share for the current year.

Toll Brothers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This is a positive change from Toll Brothers’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 0.77%. Toll Brothers’s payout ratio is 6.28%.

Toll Brothers Company 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.