Victory Capital Management Inc. Acquires 583,940 Shares of Toll Brothers Inc. (NYSE:TOL)

Victory Capital Management Inc. raised its stake in Toll Brothers Inc. (NYSE:TOL - Free Report) by 149.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 974,587 shares of the construction company's stock after buying an additional 583,940 shares during the period. Victory Capital Management Inc. owned 0.98% of Toll Brothers worth $102,907,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TOL. Sound Income Strategies LLC boosted its position in Toll Brothers by 84.2% in the first quarter. Sound Income Strategies LLC now owns 245 shares of the construction company's stock valued at $26,000 after buying an additional 112 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Toll Brothers during the fourth quarter worth $27,000. Larson Financial Group LLC lifted its holdings in shares of Toll Brothers by 152.6% during the first quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock worth $31,000 after purchasing an additional 177 shares during the period. Quarry LP lifted its holdings in shares of Toll Brothers by 1,035.7% during the fourth quarter. Quarry LP now owns 318 shares of the construction company's stock worth $40,000 after purchasing an additional 290 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Toll Brothers by 46.6% during the fourth 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. Institutional investors and hedge funds own 91.76% of the company's stock.

Toll Brothers Stock Down 0.5%

Shares of TOL traded down $0.60 during trading hours on Friday, hitting $116.88. The stock had a trading volume of 886,784 shares, compared to its average volume of 1,614,374. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.21 and a quick ratio of 0.44. The firm has a 50 day simple moving average of $110.44 and a 200-day simple moving average of $112.45. The firm has a market capitalization of $11.48 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 1.21 and a beta of 1.36. 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 issued its earnings results on Tuesday, May 20th. The construction company reported $3.50 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 the consensus estimate of $2.50 billion. Toll Brothers had a return on equity of 17.87% and a net margin of 12.95%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $3.38 EPS. Sell-side analysts predict that Toll Brothers Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, July 11th. Toll Brothers's payout ratio is presently 7.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TOL shares. Royal Bank Of Canada cut their price target on shares of Toll Brothers from $139.00 to $133.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Raymond James Financial reiterated a "strong-buy" rating and set a $130.00 price target (down previously from $145.00) on shares of Toll Brothers in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Toll Brothers from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Evercore ISI reiterated an "outperform" rating and set a $169.00 price target (up previously from $167.00) on shares of Toll Brothers in a report on Thursday, May 22nd. Finally, Oppenheimer dropped their target price on shares of Toll Brothers from $165.00 to $155.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Toll Brothers has an average rating of "Moderate Buy" and an average target price of $141.85.

Insider Transactions at Toll Brothers

In other news, Director Christine Garvey sold 770 shares of the business'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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael J. Grubb sold 500 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the sale, the chief accounting officer directly owned 2,439 shares of the company's stock, valued at approximately $292,680. The trade was a 17.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,770 shares of company stock valued at $440,586 over the last three months. Corporate insiders own 1.54% of the company's stock.

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.