Westfield Capital Management Co. LP Invests $111.56 Million in Toll Brothers, Inc. (NYSE:TOL)

Westfield Capital Management Co. LP bought a new stake in shares of Toll Brothers, Inc. (NYSE:TOL) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 722,130 shares of the construction company’s stock, valued at approximately $111,562,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Toll Brothers during the third quarter worth about $27,000. Larson Financial Group LLC raised its stake in shares of Toll Brothers by 57.9% during the third quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock valued at $28,000 after purchasing an additional 66 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Toll Brothers during the second quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Toll Brothers by 114.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock valued at $31,000 after purchasing an additional 142 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Toll Brothers by 202.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 333 shares of the construction company’s stock valued at $38,000 after purchasing an additional 223 shares in the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the completion of the transaction, the chief executive officer now owns 221,382 shares in the company, valued at approximately $35,029,273.86. This represents a 10.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin P. Connor sold 22,673 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the completion of the sale, the chief financial officer now directly owns 14,721 shares in the company, valued at approximately $2,109,224.88. This trade represents a 60.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,673 shares of company stock valued at $19,684,387. 1.54% of the stock is currently owned by insiders.

Toll Brothers Trading Up 3.4 %

Toll Brothers stock opened at $157.59 on Friday. Toll Brothers, Inc. has a 1 year low of $84.40 and a 1 year high of $160.12. The firm’s 50-day moving average is $152.07 and its 200-day moving average is $136.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52. The company has a market cap of $15.91 billion, a P/E ratio of 10.86, a PEG ratio of 1.14 and a beta of 1.68.

Toll Brothers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a yield of 0.58%. Toll Brothers’s payout ratio is currently 6.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TOL. StockNews.com lowered shares of Toll Brothers from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $142.00 price target on shares of Toll Brothers in a research note on Wednesday, August 21st. Wedbush upgraded Toll Brothers from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $148.00 to $175.00 in a research note on Friday, October 25th. Wells Fargo & Company upped their target price on Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Oppenheimer raised their price target on shares of Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

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.