Clear Harbor Asset Management LLC Decreases Stake in Toll Brothers, Inc. (NYSE:TOL)

Clear Harbor Asset Management LLC lessened its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,171 shares of the construction company’s stock after selling 174 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Toll Brothers were worth $2,035,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Register Financial Advisors LLC acquired a new position in Toll Brothers during the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Toll Brothers in the 2nd quarter valued at about $29,000. Massmutual Trust Co. FSB ADV lifted its stake in Toll Brothers by 114.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock worth $31,000 after purchasing an additional 142 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Toll Brothers by 202.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 333 shares of the construction company’s stock worth $38,000 after purchasing an additional 223 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of 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 purchasing an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Activity at Toll Brothers

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the sale, the chief executive officer now directly owns 346,382 shares in the company, valued at $51,087,881.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the sale, the chief executive officer now owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 50,000 shares of Toll Brothers stock in a transaction on Friday, September 27th. The shares were sold at an average price of $154.51, for a total value of $7,725,500.00. Following the completion of the transaction, the chief executive officer now owns 246,382 shares of the company’s stock, valued at approximately $38,068,482.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,257 shares of company stock worth $32,602,152. Corporate insiders own 1.54% of the company’s stock.

Analysts Set New Price Targets

TOL has been the topic of a number of analyst reports. Bank of America lifted their price objective on Toll Brothers from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada lifted their price target on Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $142.00 price target on shares of Toll Brothers in a research report on Wednesday, August 21st. Citigroup cut their price objective on shares of Toll Brothers from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two 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. According to data from MarketBeat.com, Toll Brothers presently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

Toll Brothers Stock Down 1.1 %

NYSE:TOL opened at $149.02 on Friday. Toll Brothers, Inc. has a 52 week low of $68.17 and a 52 week high of $160.12. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $147.92 and its two-hundred day moving average is $131.61. The stock has a market capitalization of $15.30 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 1.19 and a beta of 1.66.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.29. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates 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 was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.73 EPS. Research analysts anticipate that Toll Brothers, Inc. will post 13.51 EPS for the current year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, October 11th. Toll Brothers’s dividend payout ratio (DPR) is currently 6.28%.

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.