Pitcairn Co. Has $492,000 Stake in Toll Brothers, Inc. (NYSE:TOL)

Pitcairn Co. reduced its stake in Toll Brothers, Inc. (NYSE:TOL) by 17.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,184 shares of the construction company’s stock after selling 673 shares during the period. Pitcairn Co.’s holdings in Toll Brothers were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

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

Toll Brothers Trading Down 2.2 %

TOL opened at $164.09 on Wednesday. The company has a fifty day moving average price of $152.69 and a two-hundred day moving average price of $136.85. Toll Brothers, Inc. has a 1-year low of $84.40 and a 1-year high of $169.52. The company has a market cap of $16.57 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.68. 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. Investors of record on Friday, October 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, October 11th. Toll Brothers’s dividend payout ratio (DPR) is currently 6.34%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TOL. Barclays raised their price target on shares of Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Seaport Res Ptn downgraded Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Oppenheimer upped their price target on Toll Brothers from $168.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $142.00 price objective on shares of Toll Brothers in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company lifted their price objective on Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.