Montecito Bank & Trust Acquires Shares of 1,506 Toll Brothers, Inc. (NYSE:TOL)

Montecito Bank & Trust purchased a new position in shares of Toll Brothers, Inc. (NYSE:TOL) in the third quarter, Holdings Channel.com reports. The fund purchased 1,506 shares of the construction company’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TOL. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Toll Brothers during the 2nd quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV increased 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 worth $31,000 after buying an additional 142 shares during the last quarter. Allspring Global Investments Holdings LLC increased 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 buying an additional 223 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Toll Brothers by 323.4% during the 3rd quarter. UMB Bank n.a. now owns 271 shares of the construction company’s stock worth $42,000 after buying an additional 207 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Toll Brothers during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 91.76% of the company’s stock.

Insider Activity

In other news, Director John A. Mclean sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $151.10, for a total value of $151,100.00. Following the sale, the director now directly owns 9,944 shares in the company, valued at approximately $1,502,538.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John A. Mclean sold 1,000 shares of Toll Brothers stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $151.10, for a total transaction of $151,100.00. Following the sale, the director now directly owns 9,944 shares in the company, valued at $1,502,538.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of Toll Brothers 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 in the company, valued at $51,087,881.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,257 shares of company stock worth $32,602,152. 1.54% of the stock is currently owned by corporate insiders.

Toll Brothers Stock Performance

Shares of TOL stock opened at $153.94 on Friday. 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, Inc. has a 52 week low of $78.32 and a 52 week high of $160.12. The stock has a market capitalization of $15.54 billion, a PE ratio of 10.61, a P/E/G ratio of 1.10 and a beta of 1.68. The firm has a 50 day moving average of $149.40 and a two-hundred day moving average of $133.58.

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

Toll Brothers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.23 dividend. 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 0.60%. Toll Brothers’s payout ratio is 6.34%.

Wall Street Analysts Forecast Growth

TOL has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Oppenheimer increased their price objective on shares of Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Bank of America increased their price objective on shares of Toll Brothers from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company increased their price objective on shares of Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Evercore ISI increased their price objective on shares of Toll Brothers from $177.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toll Brothers presently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

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.