Wedge Capital Management L L P NC Buys 54,384 Shares of Toll Brothers, Inc. (NYSE:TOL)

Wedge Capital Management L L P NC grew its stake in shares of Toll Brothers, Inc. (NYSE:TOL - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 510,961 shares of the construction company's stock after acquiring an additional 54,384 shares during the quarter. Toll Brothers comprises about 0.9% of Wedge Capital Management L L P NC's portfolio, making the stock its 19th biggest holding. Wedge Capital Management L L P NC owned approximately 0.49% of Toll Brothers worth $52,522,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Baker Avenue Asset Management LP lifted its position in shares of Toll Brothers by 23.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 677 shares of the construction company's stock worth $50,000 after buying an additional 127 shares during the last quarter. Nilsine Partners LLC increased its holdings in Toll Brothers by 0.8% in the 3rd quarter. Nilsine Partners LLC now owns 17,540 shares of the construction company's stock worth $1,297,000 after purchasing an additional 146 shares in the last quarter. Fifth Third Bancorp increased its holdings in Toll Brothers by 26.1% in the 3rd quarter. Fifth Third Bancorp now owns 754 shares of the construction company's stock worth $56,000 after purchasing an additional 156 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in Toll Brothers by 4.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,084 shares of the construction company's stock worth $302,000 after purchasing an additional 161 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in Toll Brothers by 4.1% in the 3rd quarter. Inspire Investing LLC now owns 4,141 shares of the construction company's stock worth $306,000 after purchasing an additional 165 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TOL shares. Keefe, Bruyette & Woods upped their target price on Toll Brothers from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, February 28th. Barclays upped their target price on Toll Brothers from $95.00 to $115.00 and gave the stock an "underweight" rating in a report on Monday, February 26th. Oppenheimer upped their target price on Toll Brothers from $141.00 to $157.00 and gave the stock an "outperform" rating in a report on Thursday, March 21st. The Goldman Sachs Group upped their target price on Toll Brothers from $94.00 to $96.00 and gave the stock a "sell" rating in a report on Thursday, February 22nd. Finally, Wolfe Research raised Toll Brothers from a "peer perform" rating to an "outperform" rating and set a $118.00 price target for the company in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $113.80.

Insiders Place Their Bets

In other Toll Brothers news, CFO Martin P. Connor sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $116.05, for a total value of $580,250.00. Following the transaction, the chief financial officer now owns 49,721 shares in the company, valued at $5,770,122.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Martin P. Connor sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $116.05, for a total value of $580,250.00. Following the transaction, the chief financial officer now owns 49,721 shares in the company, valued at $5,770,122.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl B. Marbach sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $118.02, for a total value of $1,180,200.00. Following the completion of the transaction, the director now owns 34,069 shares in the company, valued at approximately $4,020,823.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,500 shares of company stock worth $7,881,930. Corporate insiders own 1.54% of the company's stock.

Toll Brothers Trading Up 1.4 %

NYSE TOL traded up $1.60 during trading hours on Monday, hitting $113.81. 910,429 shares of the company's stock were exchanged, compared to its average volume of 1,389,905. The stock has a 50-day simple moving average of $117.62 and a 200 day simple moving average of $99.61. Toll Brothers, Inc. has a 1-year low of $61.17 and a 1-year high of $130.63. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 0.93 and a beta of 1.66. The company has a current ratio of 4.95, a quick ratio of 0.65 and a debt-to-equity ratio of 0.39.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.48. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. Toll Brothers had a return on equity of 21.04% and a net margin of 13.97%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 earnings per share. On average, equities analysts forecast that Toll Brothers, Inc. will post 13.71 EPS for the current fiscal year.

Toll Brothers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a $0.23 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.92 annualized dividend and a yield of 0.81%. This is a positive change from Toll Brothers's previous quarterly dividend of $0.21. Toll Brothers's dividend payout ratio is presently 7.11%.

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.