Toll Brothers, Inc. (NYSE:TOL) is Shellback Capital LP’s 5th Largest Position

Shellback Capital LP grew its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 571.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 360,000 shares of the construction company’s stock after acquiring an additional 306,422 shares during the period. Toll Brothers comprises about 3.1% of Shellback Capital LP’s investment portfolio, making the stock its 5th biggest holding. Shellback Capital LP owned approximately 0.36% of Toll Brothers worth $45,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sherbrooke Park Advisers LLC acquired a new stake in Toll Brothers during the 4th quarter valued at approximately $589,000. Royal Bank of Canada grew its position in shares of Toll Brothers by 1.6% during the fourth quarter. Royal Bank of Canada now owns 162,673 shares of the construction company’s stock worth $20,488,000 after buying an additional 2,519 shares in the last quarter. Rafferty Asset Management LLC grew its position in shares of Toll Brothers by 46.6% during the fourth quarter. Rafferty Asset Management LLC now owns 70,581 shares of the construction company’s stock worth $8,890,000 after buying an additional 22,426 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Toll Brothers by 27.9% in the fourth quarter. Point72 Asset Management L.P. now owns 214,259 shares of the construction company’s stock worth $26,986,000 after buying an additional 46,677 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Toll Brothers in the fourth quarter valued at $65,000. 91.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Toll Brothers from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Oppenheimer decreased their price target on Toll Brothers from $165.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays lowered their price objective on Toll Brothers from $101.00 to $92.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their target price on Toll Brothers from $164.00 to $132.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. Finally, Bank of America lowered their price target on Toll Brothers from $156.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $144.07.

Toll Brothers Stock Performance

TOL stock opened at $106.25 on Friday. Toll Brothers, Inc. has a 1 year low of $86.67 and a 1 year high of $169.52. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 1.02 and a beta of 1.45. 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’s fifty day moving average is $101.55 and its two-hundred day moving average is $123.74.

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

Toll Brothers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Friday, April 11th. This is a boost from Toll Brothers’s previous quarterly dividend of $0.23. Toll Brothers’s payout ratio is 6.88%.

Insider Transactions at Toll Brothers

In other Toll Brothers news, Director Christine Garvey sold 420 shares of Toll Brothers stock in a transaction on Monday, February 24th. The stock was sold at an average price of $110.58, for a total transaction of $46,443.60. Following the sale, the director now owns 13,186 shares of the company’s stock, valued at $1,458,107.88. The trade was a 3.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.54% of the company’s stock.

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.