Toll Brothers, Inc. (NYSE:TOL) Sees Large Drop in Short Interest

Toll Brothers, Inc. (NYSE:TOL) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 2,580,000 shares, a drop of 16.5% from the October 31st total of 3,090,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.6% of the company’s shares are short sold.

Toll Brothers Price Performance

Shares of Toll Brothers stock opened at $165.17 on Friday. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $153.52 and a 200-day simple moving average of $137.58. The stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.23 and a beta of 1.68. Toll Brothers has a 1-year low of $84.66 and a 1-year high of $169.52.

Toll Brothers Announces Dividend

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. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Friday, October 11th. Toll Brothers’s dividend payout ratio is 6.34%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TOL. Bank of America upped their price objective on shares of Toll Brothers from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. StockNews.com lowered Toll Brothers from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Royal Bank of Canada boosted their target price on Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Oppenheimer upped their target price on Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price target on Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Toll Brothers has a consensus rating of “Moderate Buy” and an average price target of $148.87.

Insider Buying and Selling

In other Toll Brothers news, Director John A. Mclean sold 1,000 shares of Toll Brothers stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $151.10, for a total transaction of $151,100.00. Following the transaction, the director now owns 9,944 shares of the company’s stock, valued at $1,502,538.40. The trade was a 9.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $153.05, for a total value of $3,826,250.00. Following the completion of the transaction, the chief executive officer now owns 296,382 shares in the company, valued at $45,361,265.10. This represents a 7.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,000 shares of company stock valued at $16,435,800. 1.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toll Brothers

Hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Toll Brothers during the 3rd quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in shares of Toll Brothers during the third quarter worth approximately $27,000. Larson Financial Group LLC boosted its position in shares of Toll Brothers by 57.9% in the third quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock valued at $28,000 after acquiring an additional 66 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Toll Brothers during the second quarter worth $29,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in Toll Brothers by 114.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock valued at $31,000 after purchasing an additional 142 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors.

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.