Charles Schwab Investment Management Inc. Sells 8,858 Shares of Toll Brothers, Inc. (NYSE:TOL)

Charles Schwab Investment Management Inc. reduced its stake in Toll Brothers, Inc. (NYSE:TOL) by 1.3% during the third quarter, Holdings Channel.com reports. The fund owned 688,486 shares of the construction company’s stock after selling 8,858 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Toll Brothers were worth $106,364,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Trust Direct Indexing L.P. grew its stake in Toll Brothers by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 5,089 shares of the construction company’s stock worth $786,000 after purchasing an additional 72 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Toll Brothers by 11.2% during the second quarter. Fifth Third Bancorp now owns 814 shares of the construction company’s stock valued at $94,000 after buying an additional 82 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Toll Brothers by 3.7% in the third quarter. First Citizens Bank & Trust Co. now owns 2,351 shares of the construction company’s stock valued at $363,000 after acquiring an additional 83 shares in the last quarter. Clifford Swan Investment Counsel LLC lifted its stake in Toll Brothers by 5.1% in the second quarter. Clifford Swan Investment Counsel LLC now owns 1,839 shares of the construction company’s stock worth $212,000 after acquiring an additional 89 shares during the period. Finally, J.Safra Asset Management Corp grew its holdings in Toll Brothers by 21.5% during the 2nd quarter. J.Safra Asset Management Corp now owns 509 shares of the construction company’s stock worth $59,000 after acquiring an additional 90 shares in the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TOL shares. Seaport Res Ptn lowered shares of Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Royal Bank of Canada boosted their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Wedbush raised Toll Brothers from a “neutral” rating to an “outperform” rating and increased their target price for the company from $148.00 to $175.00 in a research report on Friday, October 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $142.00 price target on shares of Toll Brothers in a research report on Wednesday, August 21st. Finally, Barclays raised their price objective on Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

Insider Activity

In other news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $153.05, for a total value of $3,826,250.00. Following the sale, the chief executive officer now owns 296,382 shares in the company, valued at $45,361,265.10. This represents a 7.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin P. Connor sold 22,673 shares of Toll Brothers stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $143.28, for a total value of $3,248,587.44. Following the transaction, the chief financial officer now owns 14,721 shares of the company’s stock, valued at approximately $2,109,224.88. This represents a 60.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,673 shares of company stock valued at $19,684,387. Company insiders own 1.54% of the company’s stock.

Toll Brothers Trading Up 6.5 %

Shares of Toll Brothers stock opened at $167.85 on Tuesday. The firm’s 50 day simple moving average is $152.43 and its two-hundred day simple moving average is $136.59. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.18 and a beta of 1.68. Toll Brothers, Inc. has a 12-month low of $84.40 and a 12-month high of $169.52. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

Toll Brothers Announces Dividend

The company also recently declared 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. The ex-dividend date was Friday, October 11th. This represents a $0.92 annualized dividend and a yield of 0.55%. Toll Brothers’s payout ratio is presently 6.34%.

Toll Brothers Company 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.