New York State Teachers Retirement System Sells 3,532 Shares of Toll Brothers, Inc. (NYSE:TOL)

New York State Teachers Retirement System cut its holdings in Toll Brothers, Inc. (NYSE:TOL) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 149,813 shares of the construction company’s stock after selling 3,532 shares during the period. New York State Teachers Retirement System owned 0.15% of Toll Brothers worth $17,255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Toll Brothers by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 11,268,164 shares of the construction company’s stock valued at $1,158,255,000 after purchasing an additional 216,849 shares during the period. Greenhaven Associates Inc. boosted its stake in Toll Brothers by 1.0% during the second quarter. Greenhaven Associates Inc. now owns 5,565,787 shares of the construction company’s stock valued at $641,067,000 after buying an additional 52,893 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Toll Brothers by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,620,912 shares of the construction company’s stock worth $372,198,000 after acquiring an additional 14,449 shares during the last quarter. Norges Bank bought a new position in shares of Toll Brothers during the 4th quarter valued at approximately $128,982,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Toll Brothers by 1.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,090,802 shares of the construction company’s stock valued at $112,124,000 after purchasing an additional 12,493 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Toll Brothers Stock Performance

Shares of NYSE TOL traded up $6.63 during mid-day trading on Friday, hitting $147.90. 1,782,681 shares of the company were exchanged, compared to its average volume of 1,409,069. The stock has a 50 day simple moving average of $125.41 and a 200-day simple moving average of $120.94. The company has a quick ratio of 0.69, a current ratio of 4.59 and a debt-to-equity ratio of 0.39. The firm has a market cap of $15.18 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. Toll Brothers, Inc. has a 1-year low of $68.08 and a 1-year high of $148.64.

Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Toll Brothers had a return on equity of 20.91% and a net margin of 15.07%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.73 EPS. On average, sell-side analysts forecast that Toll Brothers, Inc. will post 12.94 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, July 5th. Toll Brothers’s dividend payout ratio is currently 6.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com lowered shares of Toll Brothers from a “buy” rating to a “hold” rating in a research report on Wednesday. Seaport Res Ptn downgraded Toll Brothers from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 4th. Citigroup dropped their target price on Toll Brothers from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Argus lifted their target price on Toll Brothers from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, The Goldman Sachs Group raised shares of Toll Brothers from a “sell” rating to a “neutral” rating and increased their price target for the company from $112.00 to $124.00 in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Toll Brothers currently has a consensus rating of “Moderate Buy” and an average target price of $136.94.

Insider Transactions at Toll Brothers

In related news, CFO Martin P. Connor sold 16,194 shares of Toll Brothers stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $118.74, for a total value of $1,922,875.56. Following the transaction, the chief financial officer now owns 28,527 shares of the company’s stock, valued at approximately $3,387,295.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Martin P. Connor sold 16,194 shares of Toll Brothers stock in a transaction on Monday, June 10th. The shares were sold at an average price of $118.74, for a total value of $1,922,875.56. Following the transaction, the chief financial officer now owns 28,527 shares in the company, valued at approximately $3,387,295.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Martin P. Connor sold 3,806 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $121.84, for a total transaction of $463,723.04. Following the completion of the transaction, the chief financial officer now owns 24,721 shares of the company’s stock, valued at approximately $3,012,006.64. The disclosure for this sale can be found here. Company 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.