OppenheimerFunds Inc. reduced its stake in shares of Toll Brothers Inc (NYSE:TOL) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,180 shares of the construction company’s stock after selling 1,481 shares during the quarter. OppenheimerFunds Inc.’s holdings in Toll Brothers were worth $1,641,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of Toll Brothers by 202.5% during the fourth quarter. Bessemer Group Inc. now owns 2,390 shares of the construction company’s stock valued at $115,000 after purchasing an additional 1,600 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of Toll Brothers during the fourth quarter valued at approximately $120,000. CENTRAL TRUST Co bought a new stake in shares of Toll Brothers during the fourth quarter valued at approximately $157,000. Charter Trust Co. bought a new stake in shares of Toll Brothers during the fourth quarter valued at approximately $210,000. Finally, Berkshire Asset Management LLC PA bought a new stake in shares of Toll Brothers during the fourth quarter valued at approximately $218,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Toll Brothers Inc (NYSE:TOL) opened at $45.11 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 7.31 and a debt-to-equity ratio of 0.79. The firm has a market cap of $6,930.00, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.76 and a beta of 1.38. Toll Brothers Inc has a twelve month low of $34.99 and a twelve month high of $52.73.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be issued a $0.11 dividend. This is a positive change from Toll Brothers’s previous quarterly dividend of $0.08. This represents a $0.44 annualized dividend and a yield of 0.98%. Toll Brothers’s dividend payout ratio (DPR) is 9.41%.
Several analysts have recently commented on TOL shares. Royal Bank of Canada reissued a “buy” rating and set a $45.00 price target on shares of Toll Brothers in a research note on Wednesday, November 15th. Wells Fargo & Co restated an “outperform” rating and issued a $54.00 price objective (up from $42.00) on shares of Toll Brothers in a report on Wednesday, December 6th. Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, February 6th. Argus set a $55.00 price objective on shares of Toll Brothers and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Raymond James Financial restated an “outperform” rating and issued a $52.00 price objective (up from $43.00) on shares of Toll Brothers in a report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Toll Brothers presently has an average rating of “Buy” and a consensus target price of $50.75.
In other Toll Brothers news, CFO Martin P. Connor sold 8,450 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $51.76, for a total value of $437,372.00. Following the sale, the chief financial officer now directly owns 55,357 shares in the company, valued at $2,865,278.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Joseph R. Sicree sold 4,500 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $51.48, for a total transaction of $231,660.00. Following the completion of the sale, the chief accounting officer now owns 24,197 shares in the company, valued at $1,245,661.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,950 shares of company stock worth $4,910,012. Company insiders own 9.01% of the company’s stock.
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About Toll Brothers
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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