First Citizens Bank & Trust Co. reduced its holdings in Toll Brothers Inc (NYSE:TOL) by 20.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,026 shares of the construction company’s stock after selling 2,068 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Toll Brothers were worth $385,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Toll Brothers by 1.8% in the 2nd quarter. BlackRock Inc. now owns 16,811,380 shares of the construction company’s stock valued at $664,216,000 after buying an additional 291,112 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Toll Brothers by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,540,189 shares of the construction company’s stock valued at $495,464,000 after buying an additional 323,334 shares during the period. FMR LLC lifted its holdings in shares of Toll Brothers by 13.4% in the 2nd quarter. FMR LLC now owns 9,042,726 shares of the construction company’s stock valued at $357,278,000 after buying an additional 1,067,193 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Toll Brothers by 134.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,198,069 shares of the construction company’s stock valued at $294,978,000 after buying an additional 4,132,120 shares during the period. Finally, State Street Corp lifted its holdings in shares of Toll Brothers by 0.9% in the 2nd quarter. State Street Corp now owns 6,257,962 shares of the construction company’s stock valued at $247,263,000 after buying an additional 53,781 shares during the period. 88.08% of the stock is owned by institutional investors and hedge funds.
Toll Brothers Inc (NYSE TOL) opened at $51.58 on Friday. Toll Brothers Inc has a one year low of $30.67 and a one year high of $52.40. The firm has a market capitalization of $8,160.00, a P/E ratio of 16.22, a P/E/G ratio of 1.30 and a beta of 1.57. The company has a quick ratio of 0.97, a current ratio of 6.61 and a debt-to-equity ratio of 0.71.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, January 11th. Toll Brothers’s payout ratio is currently 10.06%.
TOL has been the subject of several recent analyst reports. Royal Bank of Canada reissued a “buy” rating and issued a $45.00 price target on shares of Toll Brothers in a report on Wednesday, November 15th. KeyCorp reissued a “hold” rating on shares of Toll Brothers in a report on Tuesday, September 26th. ValuEngine cut Toll Brothers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th. Wells Fargo & Co reissued an “outperform” rating and issued a $54.00 price target (up from $42.00) on shares of Toll Brothers in a report on Wednesday, December 6th. Finally, Wedbush raised their price target on Toll Brothers from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, December 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.63.
In other Toll Brothers news, President Richard T. Hartman sold 8,537 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $46.00, for a total transaction of $392,702.00. Following the completion of the transaction, the president now owns 27,233 shares of the company’s stock, valued at $1,252,718. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Joseph R. Sicree sold 4,500 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $51.48, for a total value of $231,660.00. Following the transaction, the chief accounting officer now directly owns 24,197 shares of the company’s stock, valued at approximately $1,245,661.56. The disclosure for this sale can be found here. Insiders sold a total of 104,037 shares of company stock valued at $5,043,132 over the last ninety days. 8.78% of the stock is currently owned by company insiders.
Toll Brothers Company Profile
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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