Basswood Capital Management L.L.C. Grows Stock Holdings in Toll Brothers, Inc. (NYSE:TOL)

Basswood Capital Management L.L.C. raised its stake in Toll Brothers, Inc. (NYSE:TOL) by 10.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 270,234 shares of the construction company’s stock after buying an additional 25,465 shares during the period. Toll Brothers makes up approximately 2.2% of Basswood Capital Management L.L.C.’s holdings, making the stock its 14th largest holding. Basswood Capital Management L.L.C. owned about 0.27% of Toll Brothers worth $41,748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Toll Brothers in the 3rd quarter worth about $27,000. Brooklyn Investment Group purchased a new stake in shares of Toll Brothers in the third quarter valued at about $27,000. Larson Financial Group LLC grew its position in shares of Toll Brothers by 57.9% in the third quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock valued at $28,000 after purchasing an additional 66 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Toll Brothers during the 2nd quarter worth approximately $29,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Toll Brothers by 114.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock worth $31,000 after purchasing an additional 142 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of brokerages have commented on TOL. StockNews.com cut Toll Brothers from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $142.00 price objective on shares of Toll Brothers in a research report on Wednesday, August 21st. Wedbush upgraded shares of Toll Brothers from a “neutral” rating to an “outperform” rating and upped their target price for the company from $148.00 to $175.00 in a report on Friday, October 25th. Oppenheimer lifted their price target on shares of Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Barclays upped their price objective on shares of Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Two equities 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

Toll Brothers Stock Performance

Toll Brothers stock opened at $165.17 on Monday. The company has a market cap of $16.68 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. Toll Brothers, Inc. has a 12 month low of $84.66 and a 12 month high of $169.52. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57. The stock’s 50-day moving average is $153.52 and its 200-day moving average is $137.60.

Toll Brothers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. Toll Brothers’s dividend payout ratio (DPR) is 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.