Riverstone Advisors LLC Reduces Stock Position in Toll Brothers, Inc. (NYSE:TOL)

Riverstone Advisors LLC lowered its stake in shares of Toll Brothers, Inc. (NYSE:TOL) by 2.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 101,524 shares of the construction company’s stock after selling 2,915 shares during the quarter. Toll Brothers accounts for 9.1% of Riverstone Advisors LLC’s portfolio, making the stock its 2nd biggest position. Riverstone Advisors LLC’s holdings in Toll Brothers were worth $15,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd grew its position in Toll Brothers by 40.9% in the 3rd quarter. Covestor Ltd now owns 475 shares of the construction company’s stock worth $74,000 after purchasing an additional 138 shares in the last quarter. Atria Investments Inc grew its holdings in shares of Toll Brothers by 22.2% in the third quarter. Atria Investments Inc now owns 2,569 shares of the construction company’s stock valued at $397,000 after acquiring an additional 466 shares in the last quarter. Assetmark Inc. increased its position in shares of Toll Brothers by 31.8% during the third quarter. Assetmark Inc. now owns 354,859 shares of the construction company’s stock valued at $54,822,000 after acquiring an additional 85,674 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Toll Brothers during the third quarter worth $27,000. Finally, AIA Group Ltd lifted its holdings in Toll Brothers by 21.3% during the third quarter. AIA Group Ltd now owns 15,644 shares of the construction company’s stock worth $2,417,000 after acquiring an additional 2,744 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Toll Brothers

In related news, CEO Douglas C. Jr. Yearley sold 25,000 shares of Toll Brothers stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the completion of the sale, the chief executive officer now owns 221,382 shares of the company’s stock, valued at approximately $35,029,273.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Toll Brothers news, Director John A. Mclean sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $151.10, for a total value of $151,100.00. Following the completion of the transaction, the director now owns 9,944 shares of the company’s stock, valued at $1,502,538.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the sale, the chief executive officer now owns 221,382 shares in the company, valued at approximately $35,029,273.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,257 shares of company stock valued at $32,602,152. 1.54% of the stock is currently owned by company insiders.

Toll Brothers Stock Performance

Shares of TOL opened at $157.59 on Friday. Toll Brothers, Inc. has a 52-week low of $78.32 and a 52-week high of $160.12. The stock’s 50-day simple moving average is $149.67 and its 200 day simple moving average is $133.99. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.18 and a beta of 1.68.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.73 earnings per share. Research analysts forecast that Toll Brothers, Inc. will post 13.53 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.58%. Toll Brothers’s dividend payout ratio (DPR) is currently 6.34%.

Wall Street Analyst Weigh In

TOL has been the subject of several research analyst reports. Oppenheimer raised their target price on Toll Brothers from $168.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Barclays raised their price objective on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. StockNews.com cut shares of Toll Brothers from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Wedbush upgraded shares of Toll Brothers from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $148.00 to $175.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada upped their price objective on Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.