Clear Harbor Asset Management LLC Reduces Holdings in Toll Brothers, Inc. (NYSE:TOL)

Clear Harbor Asset Management LLC decreased its holdings in Toll Brothers, Inc. (NYSE:TOL) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,683 shares of the construction company’s stock after selling 2,788 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Toll Brothers were worth $2,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its position in shares of Toll Brothers by 271.6% in the fourth quarter. Millennium Management LLC now owns 3,096,331 shares of the construction company’s stock worth $154,569,000 after purchasing an additional 2,263,039 shares during the period. Norges Bank bought a new position in shares of Toll Brothers in the fourth quarter worth approximately $53,702,000. Vanguard Group Inc. boosted its position in shares of Toll Brothers by 9.1% in the first quarter. Vanguard Group Inc. now owns 11,623,797 shares of the construction company’s stock worth $546,551,000 after purchasing an additional 968,528 shares during the period. Prudential Financial Inc. boosted its position in shares of Toll Brothers by 164.7% in the first quarter. Prudential Financial Inc. now owns 1,274,947 shares of the construction company’s stock worth $59,949,000 after purchasing an additional 793,239 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Toll Brothers by 105.7% in the third quarter. Invesco Ltd. now owns 1,503,729 shares of the construction company’s stock worth $111,216,000 after purchasing an additional 772,849 shares during the period. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Activity

In related news, Director Paul E. Shapiro sold 10,000 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $99.70, for a total value of $997,000.00. Following the completion of the transaction, the director now directly owns 119,704 shares of the company’s stock, valued at approximately $11,934,488.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Paul E. Shapiro sold 10,000 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $99.70, for a total value of $997,000.00. Following the completion of the transaction, the director now directly owns 119,704 shares of the company’s stock, valued at approximately $11,934,488.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 50,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $118.85, for a total transaction of $5,942,500.00. Following the completion of the transaction, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at $41,167,500.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,000 shares of company stock worth $8,699,950. Corporate insiders own 1.54% of the company’s stock.

Toll Brothers Stock Up 1.6 %

Toll Brothers stock traded up $2.03 during midday trading on Thursday, hitting $129.45. 1,132,205 shares of the company’s stock were exchanged, compared to its average volume of 1,451,100. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.65 and a current ratio of 4.95. Toll Brothers, Inc. has a 12 month low of $57.09 and a 12 month high of $130.28. The firm has a 50-day moving average of $110.62 and a two-hundred day moving average of $93.96. The company has a market cap of $13.48 billion, a PE ratio of 10.00, a P/E/G ratio of 1.06 and a beta of 1.65.

Toll Brothers (NYSE:TOL) last issued its earnings results on Wednesday, February 21st. The construction company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.48. Toll Brothers had a net margin of 13.97% and a return on equity of 21.04%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business earned $1.70 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that Toll Brothers, Inc. will post 13.73 earnings per share for the current fiscal year.

Toll Brothers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 5th will be issued a $0.23 dividend. This is a boost from Toll Brothers’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, April 4th. Toll Brothers’s dividend payout ratio (DPR) is currently 6.49%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TOL. Seaport Res Ptn downgraded shares of Toll Brothers from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Raymond James upped their price target on shares of Toll Brothers from $110.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Friday, December 8th. UBS Group upped their price target on shares of Toll Brothers from $96.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. The Goldman Sachs Group upped their price target on shares of Toll Brothers from $94.00 to $96.00 and gave the company a “sell” rating in a research note on Thursday, February 22nd. Finally, StockNews.com raised shares of Toll Brothers from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.27.

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.