Panagora Asset Management Inc. Sells 21,339 Shares of Toll Brothers, Inc. (NYSE:TOL)

Panagora Asset Management Inc. cut its holdings in Toll Brothers, Inc. (NYSE:TOL) by 9.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,267 shares of the construction company’s stock after selling 21,339 shares during the period. Panagora Asset Management Inc. owned approximately 0.19% of Toll Brothers worth $22,721,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ossiam increased its stake in Toll Brothers by 122.8% during the fourth quarter. Ossiam now owns 7,547 shares of the construction company’s stock valued at $776,000 after acquiring an additional 4,159 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Toll Brothers by 36.4% during the first quarter. Oppenheimer & Co. Inc. now owns 31,727 shares of the construction company’s stock worth $4,105,000 after buying an additional 8,474 shares in the last quarter. Private Advisor Group LLC boosted its stake in Toll Brothers by 46.7% during the first quarter. Private Advisor Group LLC now owns 25,870 shares of the construction company’s stock worth $3,347,000 after buying an additional 8,234 shares in the last quarter. Van ECK Associates Corp boosted its stake in Toll Brothers by 36.5% during the first quarter. Van ECK Associates Corp now owns 40,465 shares of the construction company’s stock worth $5,235,000 after buying an additional 10,823 shares in the last quarter. Finally, TCW Group Inc. boosted its stake in Toll Brothers by 27.9% during the second quarter. TCW Group Inc. now owns 75,646 shares of the construction company’s stock worth $8,713,000 after buying an additional 16,503 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Toll Brothers

In other news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the sale, the chief executive officer now directly owns 346,382 shares in the company, valued at $51,087,881.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Martin P. Connor sold 3,806 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $121.84, for a total value of $463,723.04. Following the sale, the chief financial officer now directly owns 24,721 shares in the company, valued at $3,012,006.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total value of $12,917,764.16. Following the completion of the sale, the chief executive officer now owns 346,382 shares in the company, valued at $51,087,881.18. The disclosure for this sale can be found here. Insiders have sold a total of 107,584 shares of company stock worth $15,304,363 over the last 90 days. Insiders own 1.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Toll Brothers from $177.00 to $180.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Raymond James restated a “strong-buy” rating and issued a $145.00 target price (up previously from $135.00) on shares of Toll Brothers in a research note on Thursday, May 23rd. Bank of America boosted their target price on shares of Toll Brothers from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Barclays upped their price target on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Finally, Argus upped their price target on shares of Toll Brothers from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.67.

Toll Brothers Stock Performance

Shares of TOL traded up $1.78 during midday trading on Friday, reaching $144.07. 1,284,836 shares of the stock were exchanged, compared to its average volume of 1,405,639. Toll Brothers, Inc. has a twelve month low of $68.08 and a twelve month high of $149.77. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38. The company has a market cap of $14.79 billion, a P/E ratio of 9.73, a PEG ratio of 1.19 and a beta of 1.67. The stock’s 50 day simple moving average is $128.04 and its 200 day simple moving average is $122.49.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.29. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. Toll Brothers’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.73 earnings per share. On average, sell-side analysts expect that Toll Brothers, Inc. will post 13.24 earnings per share for the current year.

Toll Brothers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Friday, July 5th. Toll Brothers’s dividend payout ratio is presently 6.28%.

Toll Brothers 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.