Massachusetts Financial Services Co. MA Decreases Position in Toll Brothers, Inc. (NYSE:TOL)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,056,064 shares of the construction company’s stock after selling 80,178 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.04% of Toll Brothers worth $317,641,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TOL. Capital Performance Advisors LLP purchased a new stake in Toll Brothers during the third quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Toll Brothers in the second quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV lifted its stake in Toll Brothers by 114.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock valued at $31,000 after buying an additional 142 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Toll Brothers by 202.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 333 shares of the construction company’s stock valued at $38,000 after buying an additional 223 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in 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 buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Martin P. Connor sold 5,000 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $155.44, for a total transaction of $777,200.00. Following the transaction, the chief financial officer now directly owns 9,721 shares in the company, valued at approximately $1,511,032.24. This represents a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $158.23, for a total value of $3,955,750.00. Following the transaction, the chief executive officer now owns 221,382 shares in the company, valued at $35,029,273.86. This trade represents a 10.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,673 shares of company stock worth $19,684,387. 1.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TOL has been the subject of a number of research reports. Seaport Res Ptn cut Toll Brothers from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 4th. Bank of America boosted their price objective on Toll Brothers from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company boosted their price objective on Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $142.00 target price on shares of Toll Brothers in a report on Wednesday, August 21st. Finally, Wedbush raised Toll Brothers from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $148.00 to $175.00 in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

Toll Brothers Trading Up 0.5 %

Shares of TOL stock opened at $152.70 on Friday. The business’s fifty day moving average price is $151.76 and its 200 day moving average price is $135.82. Toll Brothers, Inc. has a 1-year low of $84.40 and a 1-year high of $160.12. The firm has a market capitalization of $15.42 billion, a PE ratio of 10.52, a P/E/G ratio of 1.14 and a beta of 1.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. Toll Brothers’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.73 earnings per share. As a group, sell-side analysts forecast that Toll Brothers, Inc. will post 13.53 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.23 per share. The ex-dividend date was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. Toll Brothers’s payout ratio is 6.34%.

About Toll Brothers

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.