The Manufacturers Life Insurance Company Cuts Stock Position in Toll Brothers, Inc. (NYSE:TOL)

The Manufacturers Life Insurance Company trimmed its holdings in Toll Brothers, Inc. (NYSE:TOL) by 20.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,907 shares of the construction company’s stock after selling 17,702 shares during the period. The Manufacturers Life Insurance Company’s holdings in Toll Brothers were worth $10,954,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TOL. Larson Financial Group LLC lifted its holdings in Toll Brothers by 57.9% in the 3rd quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock worth $28,000 after purchasing an additional 66 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Toll Brothers by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 5,089 shares of the construction company’s stock worth $786,000 after acquiring an additional 72 shares during the last quarter. Fifth Third Bancorp grew its stake in 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 acquiring an additional 82 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in Toll Brothers by 3.7% in the 3rd 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 during the last quarter. Finally, Clifford Swan Investment Counsel LLC lifted its stake in Toll Brothers by 5.1% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 1,839 shares of the construction company’s stock worth $212,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 91.76% of the company’s stock.

Insiders Place Their Bets

In related news, Director John A. Mclean sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $151.10, for a total transaction of $151,100.00. Following the sale, the director now owns 9,944 shares of the company’s stock, valued at $1,502,538.40. This trade represents a 9.14 % 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 the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 296,382 shares of the company’s stock, valued at $45,361,265.10. This represents a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,000 shares of company stock worth $16,435,800 in the last ninety days. 1.54% of the stock is owned by company insiders.

Toll Brothers Price Performance

TOL opened at $163.91 on Tuesday. The business has a fifty day moving average of $153.72 and a 200 day moving average of $137.83. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38. The stock has a market cap of $16.55 billion, a P/E ratio of 11.30, a PEG ratio of 1.24 and a beta of 1.68. Toll Brothers, Inc. has a 52-week low of $86.38 and a 52-week high of $169.52.

Toll Brothers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, October 11th. Toll Brothers’s dividend payout ratio (DPR) is presently 6.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Oppenheimer raised their price objective on Toll Brothers from $168.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded Toll Brothers from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Wells Fargo & Company increased 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. Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of Toll Brothers in a research report on Monday. Finally, Royal Bank of Canada increased their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Two 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. According to MarketBeat, Toll Brothers currently has an average rating of “Moderate Buy” and an average target price of $148.87.

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.