CIBC Asset Management Inc Boosts Holdings in Toll Brothers, Inc. (NYSE:TOL)

CIBC Asset Management Inc boosted its stake in shares of Toll Brothers, Inc. (NYSE:TOL) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,054 shares of the construction company’s stock after buying an additional 109 shares during the quarter. CIBC Asset Management Inc’s holdings in Toll Brothers were worth $472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TOL. Capital Performance Advisors LLP purchased a new position in Toll Brothers in the 3rd quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Toll Brothers during the 2nd quarter worth about $29,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Toll Brothers by 114.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock valued at $31,000 after buying an additional 142 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Toll Brothers by 202.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 333 shares of the construction company’s stock valued at $38,000 after acquiring an additional 223 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Toll Brothers by 323.4% during the third quarter. UMB Bank n.a. now owns 271 shares of the construction company’s stock worth $42,000 after purchasing an additional 207 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TOL has been the subject of a number of research analyst reports. Barclays raised their price target on Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their price target on shares of Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Wedbush upgraded Toll Brothers from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $148.00 to $175.00 in a report on Friday, October 25th. Bank of America raised their price objective on Toll Brothers from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, StockNews.com downgraded Toll Brothers from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Toll Brothers Price Performance

TOL stock opened at $152.70 on Friday. The company has a 50 day simple moving average of $151.76 and a 200 day simple moving average of $135.82. The stock has a market cap of $15.42 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.14 and a beta of 1.68. Toll Brothers, Inc. has a 1 year low of $84.40 and a 1 year high of $160.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the firm earned $3.73 earnings per share. Toll Brothers’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts anticipate that Toll Brothers, Inc. will post 13.53 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, October 11th. Toll Brothers’s dividend payout ratio (DPR) is presently 6.34%.

Insider Buying and Selling

In other news, CEO Douglas C. Jr. Yearley sold 25,000 shares of Toll Brothers stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the completion of the sale, the chief executive officer now owns 221,382 shares in the company, valued at approximately $35,029,273.86. This trade represents a 10.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin P. Connor sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $155.44, for a total value of $777,200.00. Following the completion of the sale, the chief financial officer now directly owns 9,721 shares of the company’s stock, valued at approximately $1,511,032.24. This represents a 33.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,673 shares of company stock worth $19,684,387. 1.54% of the stock is owned by insiders.

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.