Harvest Fund Management Co. Ltd Increases Holdings in Toll Brothers, Inc. (NYSE:TOL)

Harvest Fund Management Co. Ltd lifted its stake in Toll Brothers, Inc. (NYSE:TOL) by 72.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,266 shares of the construction company’s stock after buying an additional 1,791 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Toll Brothers were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TOL. Voss Capital LLC acquired a new position in Toll Brothers during the fourth quarter worth about $8,223,000. Jennison Associates LLC grew its stake in shares of Toll Brothers by 41.2% during the fourth quarter. Jennison Associates LLC now owns 834,899 shares of the construction company’s stock worth $85,819,000 after purchasing an additional 243,553 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Toll Brothers by 87.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 36,337 shares of the construction company’s stock worth $2,687,000 after buying an additional 16,993 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of Toll Brothers by 21.6% in the 3rd quarter. Natixis Advisors L.P. now owns 13,429 shares of the construction company’s stock worth $993,000 after buying an additional 2,386 shares during the period. Finally, Wedge Capital Management L L P NC grew its position in Toll Brothers by 11.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 510,961 shares of the construction company’s stock valued at $52,522,000 after acquiring an additional 54,384 shares during the period. Institutional investors and hedge funds own 91.76% of the company’s stock.

Wall Street Analysts Forecast Growth

TOL has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Toll Brothers from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Oppenheimer raised their target price on Toll Brothers from $141.00 to $157.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. The Goldman Sachs Group lifted their target price on Toll Brothers from $94.00 to $96.00 and gave the company a “sell” rating in a research note on Thursday, February 22nd. Wolfe Research upgraded shares of Toll Brothers from a “peer perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a report on Monday, January 8th. Finally, Seaport Res Ptn cut Toll Brothers from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Toll Brothers currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.80.

Insiders Place Their Bets

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 50,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $118.85, for a total transaction of $5,942,500.00. Following the transaction, the chief executive officer now directly owns 346,382 shares in the company, valued at approximately $41,167,500.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Douglas C. Jr. Yearley sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $118.85, for a total transaction of $5,942,500.00. Following the completion of the transaction, the chief executive officer now owns 346,382 shares in the company, valued at approximately $41,167,500.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Martin P. Connor sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were 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 of the company’s stock, valued at approximately $5,770,122.05. The disclosure for this sale can be found here. Insiders sold a total of 66,500 shares of company stock worth $7,881,930 over the last ninety days. 1.54% of the stock is owned by company insiders.

Toll Brothers Stock Performance

TOL traded down $0.82 during midday trading on Wednesday, reaching $118.70. The company had a trading volume of 824,824 shares, compared to its average volume of 1,382,458. The business has a 50-day moving average price of $118.01 and a two-hundred day moving average price of $99.95. The stock has a market cap of $12.36 billion, a PE ratio of 9.07, a P/E/G ratio of 0.95 and a beta of 1.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.65 and a current ratio of 4.95. Toll Brothers, Inc. has a 12-month low of $61.17 and a 12-month high of $130.63.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.25 EPS for the quarter, topping 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 company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm earned $1.70 earnings per share. Toll Brothers’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that Toll Brothers, Inc. will post 13.71 earnings per share for the current fiscal year.

Toll Brothers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a $0.23 dividend. This is a positive change from Toll Brothers’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, April 4th. This represents a $0.92 annualized dividend and a yield of 0.78%. Toll Brothers’s dividend payout ratio (DPR) 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.