Sumitomo Mitsui Trust Group Inc. Acquires 2,600 Shares of Toll Brothers, Inc. (NYSE:TOL)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Toll Brothers, Inc. (NYSE:TOL) by 59.8% during the third quarter, Holdings Channel.com reports. The fund owned 6,950 shares of the construction company’s stock after acquiring an additional 2,600 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Toll Brothers were worth $1,074,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TOL. Capital Performance Advisors LLP acquired a new position in shares of Toll Brothers during the 3rd quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Toll Brothers in the 2nd quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Toll Brothers by 114.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock valued at $31,000 after purchasing an additional 142 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Toll Brothers by 202.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 333 shares of the construction company’s stock valued at $38,000 after purchasing an additional 223 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Toll Brothers by 323.4% in the third quarter. UMB Bank n.a. now owns 271 shares of the construction company’s stock valued at $42,000 after buying an additional 207 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors.

Insider Activity at Toll Brothers

In other news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total value of $12,917,764.16. Following the transaction, the chief executive officer now owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. The trade was a 20.18 % 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, CFO Martin P. Connor sold 5,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $155.44, for a total transaction of $777,200.00. Following the transaction, the chief financial officer now directly owns 9,721 shares of the company’s stock, valued at $1,511,032.24. This trade represents a 33.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,257 shares of company stock worth $32,602,152. 1.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TOL. Seaport Res Ptn cut Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Wedbush raised shares of Toll Brothers from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $148.00 to $175.00 in a report on Friday, October 25th. Royal Bank of Canada raised their price target on shares of Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Barclays boosted their price objective on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company raised their target price on Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Toll Brothers Stock Down 0.4 %

Toll Brothers stock opened at $151.83 on Wednesday. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38. Toll Brothers, Inc. has a 12 month low of $84.40 and a 12 month high of $160.12. The firm has a market cap of $15.33 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.14 and a beta of 1.68. The stock has a fifty day simple moving average of $151.27 and a two-hundred day simple moving average of $135.51.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings data on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.29. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. Toll Brothers’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.73 earnings per share. Equities analysts predict that Toll Brothers, Inc. will post 13.53 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Toll Brothers’s payout ratio is currently 6.34%.

Toll Brothers 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.