Toll Brothers, Inc. (NYSE:TOL) Stake Lowered by Bank of America Corp DE

Bank of America Corp DE trimmed its holdings in shares of Toll Brothers, Inc. (NYSE:TOL - Free Report) by 25.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 769,060 shares of the construction company's stock after selling 266,009 shares during the quarter. Bank of America Corp DE owned 0.77% of Toll Brothers worth $96,863,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC bought a new stake in Toll Brothers in the fourth quarter valued at about $25,000. Lee Danner & Bass Inc. bought a new stake in Toll Brothers in the fourth quarter valued at about $27,000. Promus Capital LLC bought a new stake in Toll Brothers in the fourth quarter valued at about $29,000. IAG Wealth Partners LLC increased its holdings in Toll Brothers by 1,034.8% in the fourth quarter. IAG Wealth Partners LLC now owns 261 shares of the construction company's stock valued at $33,000 after buying an additional 238 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. increased its holdings in Toll Brothers by 806.5% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 281 shares of the construction company's stock valued at $35,000 after buying an additional 250 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Toll Brothers Price Performance

TOL traded up $1.18 during trading on Thursday, reaching $106.25. The stock had a trading volume of 1,412,788 shares, compared to its average volume of 1,553,115. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of 7.31, a price-to-earnings-growth ratio of 1.02 and a beta of 1.45. The company has a quick ratio of 0.80, a current ratio of 4.65 and a debt-to-equity ratio of 0.35. Toll Brothers, Inc. has a 1-year low of $86.67 and a 1-year high of $169.52. The stock has a 50 day moving average of $101.57 and a two-hundred day moving average of $124.04.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.24). The company had revenue of $1.86 billion during 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%. As a group, equities analysts anticipate that Toll Brothers, Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a $0.25 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.94%. This is a boost from Toll Brothers's previous quarterly dividend of $0.23. Toll Brothers's dividend payout ratio is currently 6.88%.

Insider Buying and Selling at Toll Brothers

In other news, Director Christine Garvey sold 420 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $110.58, for a total transaction of $46,443.60. Following the transaction, the director now directly owns 13,186 shares in the company, valued at $1,458,107.88. The trade was a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TOL. Oppenheimer lowered their price objective on Toll Brothers from $165.00 to $155.00 and set an "outperform" rating for the company in a report on Thursday. Barclays lowered their price objective on Toll Brothers from $101.00 to $92.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. UBS Group lowered their price objective on Toll Brothers from $185.00 to $183.00 and set a "buy" rating for the company in a report on Thursday, February 20th. StockNews.com upgraded Toll Brothers from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, Wedbush restated an "outperform" rating and issued a $175.00 target price on shares of Toll Brothers in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.07.

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.