CIBC Asset Management Inc cut its position in shares of Toll Brothers Inc (NYSE:TOL) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,619 shares of the construction company’s stock after selling 877 shares during the quarter. CIBC Asset Management Inc’s holdings in Toll Brothers were worth $395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. St. Johns Investment Management Company LLC acquired a new stake in Toll Brothers during the third quarter valued at approximately $52,000. Captrust Financial Advisors boosted its holdings in Toll Brothers by 51.9% during the second quarter. Captrust Financial Advisors now owns 2,070 shares of the construction company’s stock valued at $76,000 after purchasing an additional 707 shares in the last quarter. NEXT Financial Group Inc boosted its holdings in Toll Brothers by 4,900.0% during the second quarter. NEXT Financial Group Inc now owns 2,350 shares of the construction company’s stock valued at $86,000 after purchasing an additional 2,303 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Toll Brothers during the second quarter valued at approximately $91,000. Finally, Cerebellum GP LLC acquired a new stake in Toll Brothers during the third quarter valued at approximately $120,000. 83.16% of the stock is currently owned by institutional investors.

NYSE:TOL opened at $39.72 on Friday. Toll Brothers Inc has a 1 year low of $29.25 and a 1 year high of $41.70. The firm has a 50 day moving average of $40.02 and a 200-day moving average of $37.61. The company has a current ratio of 7.43, a quick ratio of 1.21 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $5.54 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 1.12 and a beta of 0.92.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 20th. The construction company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. Toll Brothers had a net margin of 9.57% and a return on equity of 14.26%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. Toll Brothers’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, analysts forecast that Toll Brothers Inc will post 3.91 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Thursday, October 10th. Toll Brothers’s dividend payout ratio (DPR) is currently 9.34%.

In related news, President Richard T. Hartman sold 40,119 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $40.48, for a total value of $1,624,017.12. Following the completion of the transaction, the president now owns 26,342 shares in the company, valued at approximately $1,066,324.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $41.06, for a total transaction of $1,026,500.00. Following the completion of the transaction, the chief executive officer now owns 273,398 shares of the company’s stock, valued at approximately $11,225,721.88. The disclosure for this sale can be found here. Insiders sold 154,008 shares of company stock valued at $6,113,365 in the last quarter. 9.69% of the stock is currently owned by corporate insiders.

TOL has been the topic of a number of recent research reports. Bank of America set a $39.00 price objective on Toll Brothers and gave the company a “hold” rating in a report on Wednesday, August 21st. Susquehanna Bancshares downgraded Toll Brothers from a “positive” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Monday, October 14th. Zacks Investment Research raised Toll Brothers from a “sell” rating to a “hold” rating and set a $37.00 price objective on the stock in a report on Monday, August 26th. Seaport Global Securities initiated coverage on Toll Brothers in a report on Friday, August 23rd. They set a “neutral” rating on the stock. Finally, Wells Fargo & Co downgraded Toll Brothers from an “outperform” rating to a “market perform” rating in a report on Thursday, August 22nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $38.25.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and City Living. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.

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Institutional Ownership by Quarter for Toll Brothers (NYSE:TOL)

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