State of Michigan Retirement System Cuts Stock Position in Toll Brothers, Inc. (NYSE:TOL)

State of Michigan Retirement System lessened its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,926 shares of the construction company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Toll Brothers were worth $3,013,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC lifted its holdings in Toll Brothers by 97.7% during the 3rd quarter. FMR LLC now owns 2,118,459 shares of the construction company’s stock worth $327,281,000 after buying an additional 1,046,758 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Toll Brothers during the third quarter worth $111,562,000. Jennison Associates LLC raised its stake in shares of Toll Brothers by 38.7% in the fourth quarter. Jennison Associates LLC now owns 1,226,271 shares of the construction company’s stock valued at $154,449,000 after acquiring an additional 341,980 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Toll Brothers in the third quarter valued at $38,985,000. Finally, Empowered Funds LLC grew its stake in Toll Brothers by 228.1% during the 4th quarter. Empowered Funds LLC now owns 232,180 shares of the construction company’s stock worth $29,243,000 after purchasing an additional 161,408 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Seaport Res Ptn raised Toll Brothers from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. The Goldman Sachs Group reduced their target price on shares of Toll Brothers from $143.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Evercore ISI boosted their price target on shares of Toll Brothers from $181.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $150.00 price objective (down from $166.00) on shares of Toll Brothers in a report on Friday, December 13th. Finally, Barclays decreased their price objective on shares of Toll Brothers from $115.00 to $101.00 and set an “underweight” rating for the company in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.57.

Toll Brothers Stock Down 1.6 %

TOL opened at $109.40 on Friday. Toll Brothers, Inc. has a one year low of $105.73 and a one year high of $169.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 4.65. The stock has a market capitalization of $10.93 billion, a P/E ratio of 7.53, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The business’s 50-day simple moving average is $125.14 and its 200-day simple moving average is $140.07.

Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). Toll Brothers had a return on equity of 18.32% and a net margin of 14.03%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.91 billion. Analysts anticipate that Toll Brothers, Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 10th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.92 annualized dividend and a yield of 0.84%. Toll Brothers’s dividend payout ratio (DPR) is 6.33%.

Insider Buying and Selling

In other Toll Brothers news, Director Paul E. Shapiro sold 3,837 shares of Toll Brothers stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $134.14, for a total value of $514,695.18. Following the transaction, the director now directly owns 119,937 shares in the company, valued at approximately $16,088,349.18. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine Garvey sold 204 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $125.78, for a total value of $25,659.12. Following the sale, the director now owns 7,728 shares of the company’s stock, valued at $972,027.84. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,622 shares of company stock worth $1,993,880 in the last 90 days. Company insiders own 1.54% of the company’s stock.

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.