Toll Brothers Inc. (NYSE:TOL) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 47.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 642,000 shares of the construction company's stock after selling 584,271 shares during the period. Jennison Associates LLC owned about 0.64% of Toll Brothers worth $67,789,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Lee Danner & Bass Inc. purchased a new stake in shares of Toll Brothers in the fourth quarter worth about $27,000. Sound Income Strategies LLC lifted its holdings in Toll Brothers by 84.2% during the first quarter. Sound Income Strategies LLC now owns 245 shares of the construction company's stock worth $26,000 after buying an additional 112 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Toll Brothers by 152.6% during the 1st quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock valued at $31,000 after purchasing an additional 177 shares during the last quarter. Quarry LP increased its position in shares of Toll Brothers by 1,035.7% in the 4th quarter. Quarry LP now owns 318 shares of the construction company's stock valued at $40,000 after acquiring an additional 290 shares during the period. Finally, Bessemer Group Inc. grew its position in Toll Brothers by 46.6% during the 4th quarter. Bessemer Group Inc. now owns 327 shares of the construction company's stock worth $41,000 after purchasing an additional 104 shares during the period. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TOL shares. Wedbush restated an "outperform" rating on shares of Toll Brothers in a report on Tuesday, May 20th. Wall Street Zen raised shares of Toll Brothers from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Royal Bank Of Canada reduced their price target on shares of Toll Brothers from $139.00 to $133.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Barclays reaffirmed an "underweight" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Toll Brothers from $132.00 to $120.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Toll Brothers currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

Insider Buying and Selling

In other Toll Brothers news, CAO Michael J. Grubb sold 500 shares of the company's 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. This represents a 17.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christine Garvey sold 770 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $119.82, for a total transaction of $92,261.40. Following the completion of the sale, the director directly owned 11,590 shares of the company's stock, valued at $1,388,713.80. The trade was a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,770 shares of company stock worth $440,586. Corporate insiders own 1.54% of the company's stock.

Toll Brothers Stock Up 8.6%

Shares of NYSE:TOL traded up $10.06 during trading on Tuesday, hitting $126.71. The company's stock had a trading volume of 2,914,605 shares, compared to its average volume of 1,618,572. The business has a 50 day moving average price of $110.71 and a two-hundred day moving average price of $112.21. The company has a market capitalization of $12.44 billion, a PE ratio of 9.40, a P/E/G ratio of 1.21 and a beta of 1.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.44 and a current ratio of 4.21. Toll Brothers Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $169.52.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $2.86 by $0.64. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.50 billion. Toll Brothers had a net margin of 12.95% and a return on equity of 17.87%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.38 earnings per share. As a group, research analysts expect that Toll Brothers Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. Toll Brothers's payout ratio is currently 7.42%.

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.