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

Harvest Fund Management Co. Ltd reduced its stake in shares of Toll Brothers, Inc. (NYSE:TOL) by 69.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,983 shares of the construction company’s stock after selling 4,566 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Toll Brothers were worth $250,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Toll Brothers by 1.2% during the 3rd quarter. State Street Corp now owns 3,662,387 shares of the construction company’s stock worth $565,802,000 after purchasing an additional 42,871 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Toll Brothers by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,157,908 shares of the construction company’s stock worth $333,444,000 after purchasing an additional 84,652 shares during the last quarter. FMR LLC lifted its stake in shares of 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 purchasing an additional 1,046,758 shares during the last quarter. Jennison Associates LLC raised its stake in 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 buying an additional 341,980 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Toll Brothers in the third quarter valued at about $111,562,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Martin P. Connor sold 11,140 shares of Toll Brothers stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $126.07, for a total transaction of $1,404,419.80. Following the transaction, the chief financial officer now owns 20,618 shares in the company, valued at approximately $2,599,311.26. This trade represents a 35.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christine Garvey sold 204 shares of Toll Brothers 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 transaction, the director now owns 7,728 shares in the company, valued at approximately $972,027.84. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,785 shares of company stock worth $1,479,185. 1.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on TOL shares. Bank of America decreased their price target on Toll Brothers from $156.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Royal Bank of Canada decreased their price target on Toll Brothers from $142.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Seaport Res Ptn upgraded Toll Brothers from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. Wedbush reiterated an “outperform” rating and issued a $175.00 price target on shares of Toll Brothers in a research note on Friday, February 14th. Finally, UBS Group cut their price objective on Toll Brothers from $185.00 to $183.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.57.

Toll Brothers Stock Down 1.2 %

Shares of TOL opened at $105.94 on Friday. The company has a current ratio of 4.65, a quick ratio of 0.80 and a debt-to-equity ratio of 0.35. Toll Brothers, Inc. has a 12 month low of $102.49 and a 12 month high of $169.52. The stock’s 50 day moving average is $121.21 and its two-hundred day moving average is $137.53. The firm has a market cap of $10.58 billion, a P/E ratio of 7.29, a PEG ratio of 1.02 and a beta of 1.77.

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

Toll Brothers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.25 per share. This is an increase from Toll Brothers’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. Toll Brothers’s dividend payout ratio (DPR) is presently 6.88%.

Toll Brothers Company 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.