Toll Brothers Inc. $TOL Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,808 shares of the construction company's stock after selling 1,733 shares during the period. California State Teachers Retirement System owned about 0.12% of Toll Brothers worth $17,926,118 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TOL. BlackRock Inc. bought a new position in shares of Toll Brothers in the second quarter valued at $1,610,696,000. Dimensional Fund Advisors LP boosted its position in Toll Brothers by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,990,447 shares of the construction company's stock valued at $408,062,000 after purchasing an additional 100,718 shares during the last quarter. Jennison Associates LLC raised its stake in Toll Brothers by 30.1% in the 1st quarter. Jennison Associates LLC now owns 1,418,543 shares of the construction company's stock worth $193,589,000 after purchasing an additional 327,953 shares in the last quarter. Norges Bank acquired a new position in Toll Brothers in the 4th quarter worth about $168,312,000. Finally, Bamco Inc. NY bought a new position in shares of Toll Brothers during the 2nd quarter worth approximately $166,250,000. Hedge funds and other institutional investors own 91.76% of the company's stock.

Toll Brothers Price Performance

Shares of TOL stock traded up $0.51 on Tuesday, reaching $134.74. The company had a trading volume of 459,612 shares, compared to its average volume of 1,119,555. The stock has a market capitalization of $12.42 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.09 and a beta of 1.34. The company has a quick ratio of 0.55, a current ratio of 4.53 and a debt-to-equity ratio of 0.32. The business's 50-day moving average is $147.00 and its 200 day moving average is $144.51. Toll Brothers Inc. has a one year low of $123.14 and a one year high of $168.36.

Toll Brothers (NYSE:TOL - Get Free Report) last released its quarterly earnings data on Tuesday, August 18th. The construction company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.04. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the business earned $3.73 EPS. Toll Brothers's revenue was down 9.7% compared to the same quarter last year. Equities research analysts forecast that Toll Brothers Inc. will post 12.81 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were given a dividend of $0.26 per share. The ex-dividend date was Friday, July 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Toll Brothers's dividend payout ratio is currently 8.35%.

Insiders Place Their Bets

In other Toll Brothers news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $156.58, for a total transaction of $12,206,507.06. Following the sale, the chairman owned 321,256 shares in the company, valued at $50,302,264.48. This represents a 19.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Robert Parahus sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $149.66, for a total transaction of $1,122,450.00. Following the completion of the sale, the chief operating officer owned 23,457 shares of the company's stock, valued at approximately $3,510,574.62. The trade was a 24.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group increased their price target on shares of Toll Brothers from $187.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Evercore reiterated an "outperform" rating and set a $191.00 price objective on shares of Toll Brothers in a research note on Thursday, August 20th. Argus set a $170.00 price target on shares of Toll Brothers in a research report on Tuesday, June 2nd. Oppenheimer downgraded shares of Toll Brothers from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 9th. Finally, Piper Sandler cut shares of Toll Brothers from an "overweight" rating to a "neutral" rating in a research report on Tuesday, June 9th. Thirteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Toll Brothers presently has a consensus rating of "Moderate Buy" and an average target price of $167.27.

About Toll Brothers

Toll Brothers, Inc is a luxury homebuilding company that designs, constructs, markets and sells residential properties in the United States. The company develops communities featuring single-family detached homes, townhomes and condominiums, as well as active-adult communities and urban high-rise residences. Its offerings generally target move-up, luxury and resort-style homebuyers, with homes available in a range of designs, locations and customization options.

Through related operations, Toll Brothers also provides mortgage financing, title and settlement services, homeowners insurance and other services that support the home purchase process.

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