Zimmer Partners LP Purchases New Position in Toll Brothers, Inc. (NYSE:TOL)

Zimmer Partners LP purchased a new stake in shares of Toll Brothers, Inc. (NYSE:TOL) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 35,000 shares of the construction company’s stock, valued at approximately $5,407,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. National Bank of Canada FI grew its holdings in shares of Toll Brothers by 6.7% during the 3rd quarter. National Bank of Canada FI now owns 43,998 shares of the construction company’s stock valued at $6,797,000 after purchasing an additional 2,766 shares during the last quarter. Castleark Management LLC acquired a new stake in Toll Brothers during the 3rd quarter worth approximately $23,629,000. EP Wealth Advisors LLC acquired a new stake in Toll Brothers during the 3rd quarter worth approximately $204,000. Kovitz Investment Group Partners LLC boosted its position in Toll Brothers by 10.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 8,235 shares of the construction company’s stock worth $1,227,000 after buying an additional 792 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in Toll Brothers during the 3rd quarter worth approximately $5,666,000. 91.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Toll Brothers

In other news, CFO Martin P. Connor sold 5,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $155.44, for a total value of $777,200.00. Following the completion of the sale, the chief financial officer now owns 9,721 shares in the company, valued at $1,511,032.24. This represents a 33.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 50,000 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $154.51, for a total transaction of $7,725,500.00. Following the completion of the sale, the chief executive officer now owns 246,382 shares of the company’s stock, valued at approximately $38,068,482.82. The trade was a 16.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,000 shares of company stock worth $16,435,800. 1.54% of the stock is owned by corporate insiders.

Toll Brothers Stock Performance

NYSE:TOL opened at $154.10 on Friday. The company has a fifty day moving average of $154.06 and a 200-day moving average of $138.45. The firm has a market capitalization of $15.56 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.17 and a beta of 1.69. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38. Toll Brothers, Inc. has a twelve month low of $89.75 and a twelve month high of $169.52.

Toll Brothers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid 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 yield of 0.60%. Toll Brothers’s dividend payout ratio (DPR) is presently 6.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TOL shares. Wedbush reiterated an “outperform” rating and set a $175.00 target price on shares of Toll Brothers in a research report on Monday, December 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $142.00 target price on shares of Toll Brothers in a research report on Wednesday, August 21st. Bank of America lifted their target price on shares of Toll Brothers from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada boosted their price target on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company boosted their price target on shares of Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.