State of New Jersey Common Pension Fund D Has $3.02 Million Position in Toll Brothers Inc. $TOL

State of New Jersey Common Pension Fund D lessened its holdings in shares of Toll Brothers Inc. (NYSE:TOL) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,582 shares of the construction company’s stock after selling 3,806 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Toll Brothers were worth $3,018,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jump Financial LLC increased its position in shares of Toll Brothers by 10.8% during the fourth quarter. Jump Financial LLC now owns 3,120 shares of the construction company’s stock worth $393,000 after acquiring an additional 304 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Toll Brothers by 1.7% during the 4th quarter. NewEdge Advisors LLC now owns 6,051 shares of the construction company’s stock valued at $762,000 after purchasing an additional 100 shares during the last quarter. Commerce Bank increased its holdings in Toll Brothers by 6.2% during the 4th quarter. Commerce Bank now owns 4,030 shares of the construction company’s stock worth $508,000 after purchasing an additional 237 shares in the last quarter. GeoWealth Management LLC raised its stake in shares of Toll Brothers by 319.6% in the fourth quarter. GeoWealth Management LLC now owns 2,115 shares of the construction company’s stock worth $266,000 after purchasing an additional 1,611 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Toll Brothers by 4.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,602 shares of the construction company’s stock worth $832,000 after purchasing an additional 302 shares during the last quarter. 91.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Christine Garvey sold 770 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $119.82, for a total value of $92,261.40. Following the transaction, the director owned 11,590 shares in the company, valued at approximately $1,388,713.80. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Grubb sold 500 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $120.00, for a total value of $60,000.00. Following the transaction, the chief accounting officer directly owned 2,439 shares of the company’s stock, valued at approximately $292,680. This trade represents a 17.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,770 shares of company stock valued at $440,586. 1.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Toll Brothers from $132.00 to $120.00 and set a “market perform” rating for the company in a report on Tuesday, May 20th. Wells Fargo & Company lifted their price objective on shares of Toll Brothers from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James Financial reiterated a “strong-buy” rating and issued a $130.00 target price (down previously from $145.00) on shares of Toll Brothers in a report on Friday, May 23rd. Evercore ISI restated an “outperform” rating and set a $169.00 price target (up from $167.00) on shares of Toll Brothers in a report on Thursday, May 22nd. Finally, Barclays reaffirmed an “underweight” rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.62.

Toll Brothers Trading Down 0.6%

NYSE TOL opened at $131.3210 on Thursday. The business’s fifty day moving average is $119.62 and its 200-day moving average is $111.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.21 and a quick ratio of 0.44. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 1.37 and a beta of 1.33. Toll Brothers Inc. has a one year low of $86.67 and a one year high of $169.52.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.59 by $0.14. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.86 billion. Toll Brothers had a net margin of 12.64% and a return on equity of 17.58%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.60 earnings per share. Equities research analysts predict that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Toll Brothers’s dividend payout ratio (DPR) is presently 7.42%.

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.