Toll Brothers, Inc. (NYSE:TOL) Sees Significant Decline in Short Interest

Toll Brothers, Inc. (NYSE:TOL) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 2,580,000 shares, a decline of 16.5% from the October 31st total of 3,090,000 shares. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is currently 2.1 days. Approximately 2.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of Toll Brothers from $168.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Bank of America lifted their target price on shares of Toll Brothers from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $142.00 price target on shares of Toll Brothers in a research note on Wednesday, August 21st. Royal Bank of Canada increased their target price on Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Seaport Res Ptn cut Toll Brothers from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Toll Brothers presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Buying and Selling

In other Toll Brothers news, CFO Martin P. Connor sold 5,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $155.44, for a total value of $777,200.00. Following the completion of the sale, the chief financial officer now directly owns 9,721 shares of the company’s stock, valued at approximately $1,511,032.24. This represents a 33.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $153.05, for a total transaction of $3,826,250.00. Following the completion of the sale, the chief executive officer now owns 296,382 shares in the company, valued at $45,361,265.10. The trade was a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,000 shares of company stock valued at $16,435,800 in the last quarter. Company insiders own 1.54% of the company’s stock.

Hedge Funds Weigh In On Toll Brothers

A number of institutional investors and hedge funds have recently modified their holdings of the business. TCW Group Inc. boosted its holdings in Toll Brothers by 27.9% during the 2nd quarter. TCW Group Inc. now owns 75,646 shares of the construction company’s stock worth $8,713,000 after acquiring an additional 16,503 shares during the last quarter. Chartwell Investment Partners LLC grew its stake in shares of Toll Brothers by 66.5% during the 3rd quarter. Chartwell Investment Partners LLC now owns 35,295 shares of the construction company’s stock worth $5,453,000 after acquiring an additional 14,092 shares during the period. Avior Wealth Management LLC lifted its holdings in Toll Brothers by 4,894.1% during the third quarter. Avior Wealth Management LLC now owns 3,396 shares of the construction company’s stock valued at $525,000 after purchasing an additional 3,328 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Toll Brothers by 62,605.9% in the third quarter. International Assets Investment Management LLC now owns 10,660 shares of the construction company’s stock worth $1,647,000 after purchasing an additional 10,643 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Toll Brothers by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,571 shares of the construction company’s stock valued at $7,319,000 after buying an additional 6,998 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors.

Toll Brothers Stock Performance

Shares of Toll Brothers stock opened at $165.17 on Monday. The stock has a market cap of $16.68 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.24 and a beta of 1.68. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38. Toll Brothers has a twelve month low of $84.66 and a twelve month high of $169.52. The company’s fifty day moving average is $153.52 and its 200 day moving average is $137.60.

Toll Brothers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.23 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. Toll Brothers’s payout ratio is currently 6.34%.

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.