PNC Financial Services Group Inc. Increases Stock Holdings in Toll Brothers, Inc. (NYSE:TOL)

PNC Financial Services Group Inc. increased its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,437 shares of the construction company’s stock after acquiring an additional 1,267 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Toll Brothers were worth $3,466,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Toll Brothers during the third quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Toll Brothers during the second quarter worth $29,000. Massmutual Trust Co. FSB ADV lifted its holdings in Toll Brothers by 114.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock worth $31,000 after acquiring an additional 142 shares during the period. UMB Bank n.a. lifted its holdings in 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 acquiring an additional 207 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Toll Brothers by 202.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 333 shares of the construction company’s stock worth $38,000 after acquiring an additional 223 shares during the period. 91.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Martin P. Connor sold 22,673 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 14,721 shares in the company, valued at $2,109,224.88. The trade was a 60.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $158.23, for a total value of $3,955,750.00. Following the completion of the transaction, the chief executive officer now owns 221,382 shares of the company’s stock, valued at $35,029,273.86. The trade was a 10.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,673 shares of company stock worth $19,684,387 over the last ninety days. 1.54% of the stock is owned by corporate insiders.

Toll Brothers Stock Performance

NYSE:TOL opened at $157.59 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52. Toll Brothers, Inc. has a 52-week low of $84.40 and a 52-week high of $160.12. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.14 and a beta of 1.68. The business’s fifty day moving average is $152.07 and its 200 day moving average is $136.21.

Toll Brothers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Friday, October 11th. Toll Brothers’s payout ratio is 6.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TOL shares. Seaport Res Ptn lowered Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Wells Fargo & Company boosted their target price on Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Royal Bank of Canada boosted their target price on Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Wedbush upgraded Toll Brothers from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $148.00 to $175.00 in a research note on Friday, October 25th. Finally, Bank of America boosted their target price on Toll Brothers from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Toll Brothers presently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

Toll Brothers 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.