Jennison Associates LLC Acquires 243,553 Shares of Toll Brothers, Inc. (NYSE:TOL)

Jennison Associates LLC grew its holdings in Toll Brothers, Inc. (NYSE:TOL) by 41.2% in the fourth quarter, HoldingsChannel reports. The fund owned 834,899 shares of the construction company’s stock after buying an additional 243,553 shares during the period. Jennison Associates LLC’s holdings in Toll Brothers were worth $85,819,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Baker Avenue Asset Management LP lifted its position in Toll Brothers by 23.1% during the third quarter. Baker Avenue Asset Management LP now owns 677 shares of the construction company’s stock worth $50,000 after purchasing an additional 127 shares during the period. Nilsine Partners LLC lifted its position in Toll Brothers by 0.8% during the third 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 during the period. Fifth Third Bancorp lifted its position in Toll Brothers by 26.1% during the third quarter. Fifth Third Bancorp now owns 754 shares of the construction company’s stock worth $56,000 after purchasing an additional 156 shares during the period. First Trust Direct Indexing L.P. lifted its position in Toll Brothers by 4.1% during the third 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 during the period. Finally, Inspire Investing LLC lifted its position in Toll Brothers by 4.1% during the third quarter. Inspire Investing LLC now owns 4,141 shares of the construction company’s stock worth $306,000 after purchasing an additional 165 shares during the period. Institutional investors own 91.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Seaport Res Ptn cut shares of Toll Brothers from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. JPMorgan Chase & Co. boosted their target price on Toll Brothers from $127.00 to $128.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Citigroup boosted their target price on Toll Brothers from $116.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company boosted their target price on Toll Brothers from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on Toll Brothers from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.80.

Insider Activity at Toll Brothers

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 transaction of $580,250.00. Following the transaction, the chief financial officer now directly owns 49,721 shares in the company, valued at approximately $5,770,122.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Toll Brothers news, Director Carl B. Marbach sold 10,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $118.02, for a total transaction of $1,180,200.00. Following the transaction, the director now directly owns 34,069 shares in the company, valued at approximately $4,020,823.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. Insiders have sold 66,500 shares of company stock worth $7,881,930 over the last ninety days. Insiders own 1.54% of the company’s stock.

Toll Brothers Stock Performance

Toll Brothers stock opened at $113.81 on Tuesday. The business has a 50 day moving average of $117.62 and a 200-day 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 company has a market capitalization of $11.86 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.93 and a beta of 1.66. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.95 and a quick ratio of 0.65.

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

Toll Brothers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This is a boost from Toll Brothers’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 0.81%. Toll Brothers’s dividend payout ratio is presently 7.11%.

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.