Victory Capital Management Inc. Cuts Stock Holdings in Toll Brothers, Inc. (NYSE:TOL)

Victory Capital Management Inc. lowered its position in Toll Brothers, Inc. (NYSE:TOL) by 20.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,647 shares of the construction company’s stock after selling 102,569 shares during the period. Victory Capital Management Inc.’s holdings in Toll Brothers were worth $49,202,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. FMR LLC increased its stake in Toll Brothers by 97.7% in the 3rd quarter. FMR LLC now owns 2,118,459 shares of the construction company’s stock valued at $327,281,000 after buying an additional 1,046,758 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Toll Brothers in the third quarter valued at approximately $111,562,000. Jennison Associates LLC increased its position in shares of Toll Brothers by 38.7% during the fourth quarter. Jennison Associates LLC now owns 1,226,271 shares of the construction company’s stock valued at $154,449,000 after acquiring an additional 341,980 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Toll Brothers during the third quarter worth $38,985,000. Finally, Empowered Funds LLC boosted its position in Toll Brothers by 228.1% in the fourth quarter. Empowered Funds LLC now owns 232,180 shares of the construction company’s stock worth $29,243,000 after purchasing an additional 161,408 shares during the last quarter. 91.76% of the stock is owned by institutional investors.

Toll Brothers Stock Down 1.6 %

Shares of NYSE TOL opened at $109.40 on Friday. The company has a quick ratio of 0.80, a current ratio of 4.65 and a debt-to-equity ratio of 0.35. The company has a market cap of $10.93 billion, a P/E ratio of 7.53, a P/E/G ratio of 1.02 and a beta of 1.77. Toll Brothers, Inc. has a 52 week low of $105.73 and a 52 week high of $169.52. The business has a 50-day simple moving average of $125.14 and a two-hundred day simple moving average of $140.12.

Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.91 billion. Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. Research analysts anticipate that Toll Brothers, Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 10th were issued a $0.23 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.84%. Toll Brothers’s payout ratio is currently 6.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TOL shares. Oppenheimer decreased their target price on Toll Brothers from $189.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. UBS Group lowered their price objective on shares of Toll Brothers from $185.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Keefe, Bruyette & Woods reduced their target price on shares of Toll Brothers from $164.00 to $132.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. StockNews.com lowered shares of Toll Brothers from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Finally, Citigroup dropped their price objective on Toll Brothers from $155.00 to $137.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.57.

Insider Buying and Selling

In other news, Director Paul E. Shapiro sold 3,837 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $134.14, for a total transaction of $514,695.18. Following the completion of the transaction, the director now owns 119,937 shares of the company’s stock, valued at approximately $16,088,349.18. The trade was a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine Garvey sold 204 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $125.78, for a total transaction of $25,659.12. Following the completion of the sale, the director now directly owns 7,728 shares in the company, valued at $972,027.84. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,622 shares of company stock worth $1,993,880. Corporate insiders own 1.54% of the company’s stock.

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.