Cerity Partners LLC Acquires 16,922 Shares of Toll Brothers Inc. (NYSE:TOL)

Cerity Partners LLC lifted its stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 78.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,385 shares of the construction company's stock after acquiring an additional 16,922 shares during the quarter. Cerity Partners LLC's holdings in Toll Brothers were worth $4,053,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Toll Brothers in the 4th quarter valued at approximately $149,924,000. Balyasny Asset Management L.P. raised its holdings in Toll Brothers by 24,475.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,114,728 shares of the construction company's stock valued at $140,400,000 after acquiring an additional 1,110,192 shares in the last quarter. D1 Capital Partners L.P. acquired a new position in Toll Brothers in the 4th quarter valued at approximately $106,428,000. Junto Capital Management LP acquired a new position in Toll Brothers in the 4th quarter valued at approximately $54,929,000. Finally, FMR LLC raised its holdings in Toll Brothers by 19.4% in the 4th quarter. FMR LLC now owns 2,528,853 shares of the construction company's stock valued at $318,509,000 after acquiring an additional 410,394 shares in the last quarter. Institutional investors own 91.76% of the company's stock.

Insider Buying and Selling at Toll Brothers

In other Toll Brothers news, Director Christine Garvey sold 770 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $119.82, for a total value of $92,261.40. Following the transaction, the director directly owned 11,590 shares in the company, valued at approximately $1,388,713.80. This trade represents a 6.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael J. Grubb sold 500 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $120.00, for a total value of $60,000.00. Following the completion of the transaction, the chief accounting officer owned 2,439 shares in the company, valued at $292,680. The trade was a 17.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,770 shares of company stock worth $440,586. Insiders own 1.54% of the company's stock.

Toll Brothers Price Performance

TOL stock traded down $0.60 during midday trading on Friday, reaching $116.88. 886,784 shares of the company's stock traded hands, compared to its average volume of 1,614,374. The company has a 50-day simple moving average of $110.44 and a two-hundred day simple moving average of $112.45. Toll Brothers Inc. has a 1-year low of $86.67 and a 1-year high of $169.52. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.21 and a beta of 1.36. The company has a quick ratio of 0.44, a current ratio of 4.21 and a debt-to-equity ratio of 0.35.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $3.50 EPS for the quarter, beating analysts' consensus estimates of $2.86 by $0.64. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.50 billion. Toll Brothers had a return on equity of 17.87% and a net margin of 12.95%. The business's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $3.38 EPS. On average, analysts anticipate that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a $0.25 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. Toll Brothers's payout ratio is 7.42%.

Analyst Upgrades and Downgrades

TOL has been the subject of several recent research reports. Keefe, Bruyette & Woods cut their price target on Toll Brothers from $132.00 to $120.00 and set a "market perform" rating for the company in a report on Tuesday, May 20th. Oppenheimer dropped their target price on Toll Brothers from $165.00 to $155.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Raymond James Financial reissued a "strong-buy" rating and issued a $130.00 target price (down from $145.00) on shares of Toll Brothers in a report on Friday, May 23rd. Evercore ISI reissued an "outperform" rating and issued a $169.00 target price (up from $167.00) on shares of Toll Brothers in a report on Thursday, May 22nd. Finally, Wall Street Zen raised Toll Brothers from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $141.85.

Toll Brothers 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.