Bank of New York Mellon Corp Trims Stake in Toll Brothers, Inc. (NYSE:TOL)

Bank of New York Mellon Corp decreased its position in shares of Toll Brothers, Inc. (NYSE:TOL) by 15.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,080,132 shares of the construction company’s stock after selling 199,548 shares during the period. Bank of New York Mellon Corp’s holdings in Toll Brothers were worth $136,043,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TOL. FMR LLC grew its holdings in shares of Toll Brothers by 97.7% during the 3rd quarter. FMR LLC now owns 2,118,459 shares of the construction company’s stock worth $327,281,000 after acquiring an additional 1,046,758 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Toll Brothers in the 3rd quarter worth approximately $111,562,000. Jennison Associates LLC grew its stake in shares of Toll Brothers by 38.7% in the 4th quarter. Jennison Associates LLC now owns 1,226,271 shares of the construction company’s stock worth $154,449,000 after buying an additional 341,980 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Toll Brothers in the 3rd quarter worth approximately $38,985,000. Finally, Empowered Funds LLC grew its stake in shares of Toll Brothers by 228.1% in the 4th quarter. Empowered Funds LLC now owns 232,180 shares of the construction company’s stock worth $29,243,000 after buying an additional 161,408 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Toll Brothers Price Performance

NYSE TOL opened at $111.64 on Friday. The business’s fifty day moving average price is $126.93 and its 200-day moving average price is $140.76. The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 1.02 and a beta of 1.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.65 and a quick ratio of 0.80. Toll Brothers, Inc. has a 1-year low of $108.86 and a 1-year high of $169.52.

Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.24). The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.91 billion. Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. On average, equities analysts predict that Toll Brothers, Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 10th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.82%. Toll Brothers’s payout ratio is 6.33%.

Analyst Ratings Changes

TOL has been the topic of several recent research reports. Oppenheimer cut their price target on Toll Brothers from $189.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of Toll Brothers in a research note on Friday, February 14th. UBS Group cut their price target on Toll Brothers from $185.00 to $183.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Evercore ISI upped their price target on Toll Brothers from $181.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Citigroup cut their price target on Toll Brothers from $155.00 to $137.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Toll Brothers currently has an average rating of “Moderate Buy” and a consensus target price of $147.57.

Insider Activity

In other news, Director Paul E. Shapiro sold 3,837 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $134.14, for a total value of $514,695.18. Following the completion of the sale, the director now directly owns 119,937 shares in the company, valued at $16,088,349.18. This represents a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christine Garvey sold 420 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $110.58, for a total value of $46,443.60. Following the completion of the sale, the director now owns 13,186 shares of the company’s stock, valued at $1,458,107.88. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,622 shares of company stock valued at $1,993,880 in the last ninety days. 1.54% of the stock is currently owned by company insiders.

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.