Royce & Associates LP Sells 4,721 Shares of Toll Brothers Inc. (NYSE:TOL)

Key Points

• Royce & Associates LP reduced its stake in Toll Brothers Inc. by 9.8%, owning 43,647 shares valued at approximately $4.6 million after selling 4,721 shares.
• Toll Brothers reported $3.50 earnings per share, exceeding analysts' expectations of $2.86, while its revenue fell 3.5% year-over-year to $2.74 billion.
• The company recently declared a $0.25 quarterly dividend, resulting in a 0.81% dividend yield, with a payout ratio of 7.42%.

Royce & Associates LP trimmed its position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,647 shares of the construction company's stock after selling 4,721 shares during the quarter. Royce & Associates LP's holdings in Toll Brothers were worth $4,609,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Greenhaven Associates Inc. lifted its holdings in shares of Toll Brothers by 0.5% during the 1st quarter. Greenhaven Associates Inc. now owns 5,562,582 shares of the construction company's stock worth $587,353,000 after acquiring an additional 26,079 shares during the period. FMR LLC grew its holdings in Toll Brothers by 19.4% in the fourth quarter. FMR LLC now owns 2,528,853 shares of the construction company's stock worth $318,509,000 after purchasing an additional 410,394 shares during the period. Geode Capital Management LLC lifted its position in Toll Brothers by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,192,909 shares of the construction company's stock valued at $276,263,000 after acquiring an additional 35,001 shares in the last quarter. Invesco Ltd. boosted its stake in Toll Brothers by 14.2% during the 4th quarter. Invesco Ltd. now owns 1,903,545 shares of the construction company's stock valued at $239,751,000 after purchasing an additional 236,402 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Toll Brothers by 24.6% during the fourth quarter. AQR Capital Management LLC now owns 1,216,625 shares of the construction company's stock worth $153,234,000 after purchasing an additional 239,917 shares during the last quarter. 91.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Toll Brothers

In other news, Director Christine Garvey sold 770 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $119.82, for a total value of $92,261.40. Following the transaction, the director owned 11,590 shares of the company's stock, valued at approximately $1,388,713.80. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen F. East sold 2,500 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $115.33, for a total transaction of $288,325.00. Following the completion of the transaction, the director directly owned 12,787 shares in the company, valued at $1,474,724.71. This trade represents a 16.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,770 shares of company stock valued at $440,586 over the last 90 days. 1.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TOL has been the topic of several research reports. Royal Bank Of Canada lowered 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. Wedbush reissued an "outperform" rating on shares of Toll Brothers in a report on Tuesday, May 20th. Evercore ISI reaffirmed an "outperform" rating and issued a $169.00 price objective (up previously from $167.00) on shares of Toll Brothers in a research note on Thursday, May 22nd. UBS Group reissued a "buy" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company raised their target price on shares of Toll Brothers from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $141.85.

Toll Brothers Stock Performance

Shares of NYSE TOL traded down $1.50 during trading on Thursday, reaching $117.95. 327,839 shares of the company traded hands, compared to its average volume of 1,795,551. The firm has a 50 day simple moving average of $113.33 and a 200-day simple moving average of $112.23. The company has a quick ratio of 0.44, a current ratio of 4.21 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $11.58 billion, a PE ratio of 8.73, a P/E/G ratio of 1.28 and a beta of 1.36. Toll Brothers Inc. has a 52-week low of $86.67 and a 52-week high of $169.52.

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

Toll Brothers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, July 11th. Toll Brothers's dividend payout ratio is currently 7.42%.

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.