Principal Financial Group Inc. Has $36.72 Million Stock Position in Toll Brothers, Inc. (NYSE:TOL)

Principal Financial Group Inc. lowered its position in shares of Toll Brothers, Inc. (NYSE:TOL) by 31.5% during the third quarter, Holdings Channel reports. The fund owned 237,678 shares of the construction company’s stock after selling 109,183 shares during the quarter. Principal Financial Group Inc.’s holdings in Toll Brothers were worth $36,719,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC raised its stake in Toll Brothers by 57.9% during the 3rd quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock valued at $28,000 after purchasing an additional 66 shares during the period. First Trust Direct Indexing L.P. grew its holdings 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 valued at $786,000 after buying an additional 72 shares in the last quarter. Fifth Third Bancorp raised its position 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 buying an additional 82 shares during the period. First Citizens Bank & Trust Co. lifted its stake 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 worth $363,000 after acquiring an additional 83 shares in the last quarter. Finally, Clifford Swan Investment Counsel LLC boosted its position in 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 worth $212,000 after acquiring an additional 89 shares during the period. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Activity at Toll Brothers

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 50,000 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $154.51, for a total value of $7,725,500.00. Following the completion of the sale, the chief executive officer now directly owns 246,382 shares of the company’s stock, valued at $38,068,482.82. This represents a 16.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin P. Connor sold 5,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $155.44, for a total transaction of $777,200.00. Following the transaction, the chief financial officer now owns 9,721 shares in the company, valued at approximately $1,511,032.24. The trade was a 33.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,837 shares of company stock worth $13,124,245 in the last 90 days. 1.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods downgraded Toll Brothers from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $168.00 to $164.00 in a report on Tuesday, December 10th. Bank of America increased their target price on shares of Toll Brothers from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wedbush restated an “outperform” rating and set a $175.00 price target on shares of Toll Brothers in a report on Wednesday, December 11th. Evercore ISI increased their price objective on Toll Brothers from $181.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $189.00 target price on shares of Toll Brothers in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Toll Brothers currently has an average rating of “Moderate Buy” and a consensus target price of $152.53.

Toll Brothers Trading Up 1.3 %

Shares of TOL stock opened at $127.02 on Tuesday. Toll Brothers, Inc. has a 12 month low of $95.46 and a 12 month high of $169.52. The company has a market cap of $12.83 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 1.00 and a beta of 1.69. The company has a quick ratio of 0.57, a current ratio of 4.92 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $150.36 and its two-hundred day moving average is $139.79.

Toll Brothers (NYSE:TOL) last posted its earnings results on Monday, December 9th. The construction company reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.34 by $0.29. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.17 billion. Toll Brothers had a net margin of 14.48% and a return on equity of 19.64%. Toll Brothers’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $4.11 EPS. Equities analysts predict that Toll Brothers, Inc. will post 14.57 EPS for the current year.

Toll Brothers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.72%. Toll Brothers’s payout ratio is presently 6.12%.

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.