Toll Brothers Inc. $TOL Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Toll Brothers Inc. by 11.8%, now holding 28,582 shares valued at approximately $3.02 million.
• Analysts have mixed views on Toll Brothers, with some raising price targets while others, like Keefe, Bruyette & Woods, decreased their target from $132 to $120, indicating a "market perform" rating.
• Toll Brothers recently reported $3.73 EPS for the quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.25 per share.

State of New Jersey Common Pension Fund D lowered its stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,582 shares of the construction company's stock after selling 3,806 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Toll Brothers were worth $3,018,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TOL. Balyasny Asset Management L.P. increased its holdings in shares of Toll Brothers by 24,475.1% during the fourth 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 worth approximately $106,428,000. Victory Capital Management Inc. increased its holdings in Toll Brothers by 149.5% in the 1st quarter. Victory Capital Management Inc. now owns 974,587 shares of the construction company's stock worth $102,907,000 after buying an additional 583,940 shares during the period. Junto Capital Management LP acquired a new position in Toll Brothers in the 4th quarter worth approximately $54,929,000. Finally, Dimensional Fund Advisors LP increased its holdings in Toll Brothers by 21.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,159,289 shares of the construction company's stock worth $227,988,000 after buying an additional 375,372 shares during the period. Institutional investors and hedge funds own 91.76% of the company's stock.

Toll Brothers Price Performance

Shares of NYSE:TOL traded up $7.6370 during midday trading on Friday, reaching $139.2170. 2,902,576 shares of the company's stock traded hands, compared to its average volume of 1,534,636. The company has a fifty day simple moving average of $120.67 and a two-hundred day simple moving average of $111.30. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.44 and a current ratio of 4.38. The company has a market cap of $13.67 billion, a P/E ratio of 10.23, a PEG ratio of 0.91 and a beta of 1.33. Toll Brothers Inc. has a 1 year low of $86.67 and a 1 year high of $169.52.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, beating analysts' consensus estimates of $3.59 by $0.14. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. Toll Brothers had a return on equity of 17.42% and a net margin of 12.64%.The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.60 EPS. Equities analysts predict that Toll Brothers Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a $0.25 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. Toll Brothers's dividend payout ratio (DPR) is presently 7.35%.

Analyst Ratings Changes

TOL has been the topic of several research reports. Wall Street Zen upgraded shares of Toll Brothers from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Wells Fargo & Company raised their price objective on shares of Toll Brothers from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Barclays reaffirmed an "underweight" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods dropped their price objective on shares of Toll Brothers from $132.00 to $120.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 20th. Finally, UBS Group reaffirmed a "buy" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Toll Brothers has a consensus rating of "Moderate Buy" and an average price target of $143.54.

Insider Transactions at Toll Brothers

In other Toll Brothers news, CAO Michael J. Grubb sold 500 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $120.00, for a total value of $60,000.00. Following the transaction, the chief accounting officer owned 2,439 shares in the company, valued at approximately $292,680. This trade represents a 17.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christine Garvey sold 770 shares of the firm's 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 completion of the sale, the director directly owned 11,590 shares of the company's stock, valued at $1,388,713.80. This trade represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,601 shares of company stock worth $1,726,874. Company insiders own 1.54% of the company's stock.

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.