Dark Forest Capital Management LP Sells 5,228 Shares of Toll Brothers, Inc. (NYSE:TOL)

Dark Forest Capital Management LP cut its stake in shares of Toll Brothers, Inc. (NYSE:TOL) by 40.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 7,732 shares of the construction company’s stock after selling 5,228 shares during the period. Dark Forest Capital Management LP’s holdings in Toll Brothers were worth $891,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Fifth Third Bancorp increased its position in shares of Toll Brothers by 11.2% during the 2nd quarter. Fifth Third Bancorp now owns 814 shares of the construction company’s stock valued at $94,000 after purchasing an additional 82 shares during the last quarter. Clifford Swan Investment Counsel LLC increased its position in shares of Toll Brothers by 5.1% during the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 1,839 shares of the construction company’s stock valued at $212,000 after purchasing an additional 89 shares during the last quarter. J.Safra Asset Management Corp increased its position in shares of Toll Brothers by 21.5% during the 2nd quarter. J.Safra Asset Management Corp now owns 509 shares of the construction company’s stock valued at $59,000 after purchasing an additional 90 shares during the last quarter. Diversified Trust Co increased its position in shares of Toll Brothers by 1.7% during the 2nd quarter. Diversified Trust Co now owns 5,926 shares of the construction company’s stock valued at $683,000 after purchasing an additional 100 shares during the last quarter. Finally, Ellis Investment Partners LLC increased its position in shares of Toll Brothers by 2.8% during the 2nd quarter. Ellis Investment Partners LLC now owns 3,885 shares of the construction company’s stock valued at $447,000 after purchasing an additional 105 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group raised Toll Brothers from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $112.00 to $124.00 in a report on Monday, June 17th. Argus lifted their price objective on Toll Brothers from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Oppenheimer lifted their price objective on Toll Brothers from $157.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, StockNews.com lowered Toll Brothers from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.00.

Insider Activity

In other news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $153.05, for a total transaction of $3,826,250.00. Following the transaction, the chief executive officer now directly owns 296,382 shares of the company’s stock, valued at $45,361,265.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at $51,087,881.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $153.05, for a total value of $3,826,250.00. Following the transaction, the chief executive officer now directly owns 296,382 shares in the company, valued at $45,361,265.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,257 shares of company stock valued at $19,992,602. Company insiders own 1.54% of the company’s stock.

Toll Brothers Stock Performance

Shares of TOL stock opened at $150.64 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52. Toll Brothers, Inc. has a fifty-two week low of $68.08 and a fifty-two week high of $154.62. The stock has a 50 day moving average price of $139.09 and a two-hundred day moving average price of $127.27. The company has a market capitalization of $15.21 billion, a P/E ratio of 10.29, a PEG ratio of 1.24 and a beta of 1.67.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, August 20th. The construction company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.29. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted $3.73 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. Analysts expect that Toll Brothers, Inc. will post 13.51 earnings per share for the current year.

Toll Brothers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. Toll Brothers’s dividend payout ratio (DPR) 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.