Legal & General Group Plc Decreases Stake in Toll Brothers Inc. $TOL

Legal & General Group Plc lessened its holdings in shares of Toll Brothers Inc. (NYSE:TOL) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 212,794 shares of the construction company’s stock after selling 4,327 shares during the quarter. Legal & General Group Plc owned approximately 0.22% of Toll Brothers worth $24,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brandywine Global Investment Management LLC grew its stake in Toll Brothers by 12.1% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 171,376 shares of the construction company’s stock valued at $19,559,000 after acquiring an additional 18,526 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Toll Brothers during the 2nd quarter worth approximately $1,462,000. GDS Wealth Management grew its position in shares of Toll Brothers by 35.1% in the second quarter. GDS Wealth Management now owns 79,457 shares of the construction company’s stock valued at $9,068,000 after purchasing an additional 20,651 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Toll Brothers by 1.0% in the second quarter. TD Waterhouse Canada Inc. now owns 14,254 shares of the construction company’s stock valued at $1,683,000 after purchasing an additional 143 shares during the last quarter. Finally, Western Wealth Management LLC increased its holdings in shares of Toll Brothers by 19.5% in the second quarter. Western Wealth Management LLC now owns 2,654 shares of the construction company’s stock valued at $303,000 after purchasing an additional 433 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Toll Brothers Trading Up 1.6%

NYSE TOL opened at $140.53 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.38 and a quick ratio of 0.51. The stock has a market capitalization of $13.55 billion, a P/E ratio of 10.33, a PEG ratio of 1.60 and a beta of 1.37. The firm’s 50-day moving average is $134.66 and its two-hundred day moving average is $125.87. Toll Brothers Inc. has a 12 month low of $86.67 and a 12 month high of $168.17.

Toll Brothers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. Toll Brothers’s dividend payout ratio (DPR) is presently 7.35%.

Wall Street Analysts Forecast Growth

TOL has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Toll Brothers in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on shares of Toll Brothers from $133.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Evercore ISI restated an “in-line” rating and set a $160.00 price objective (down from $169.00) on shares of Toll Brothers in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their target price on shares of Toll Brothers from $143.00 to $145.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Finally, Wells Fargo & Company increased their price target on shares of Toll Brothers from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Toll Brothers has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

Insiders Place Their Bets

In other Toll Brothers news, Director Paul E. Shapiro sold 3,812 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $147.65, for a total value of $562,841.80. Following the sale, the director owned 118,753 shares of the company’s stock, valued at $17,533,880.45. The trade was a 3.11% 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. Company insiders own 1.54% of the company’s stock.

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.