M&T Bank Corp Cuts Holdings in Toll Brothers, Inc. (NYSE:TOL)

M&T Bank Corp trimmed its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,797 shares of the construction company’s stock after selling 575 shares during the quarter. M&T Bank Corp’s holdings in Toll Brothers were worth $2,493,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TOL. FMR LLC increased its holdings in Toll Brothers by 97.7% during the third 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 period. Westfield Capital Management Co. LP purchased a new position in Toll Brothers during the third quarter valued at approximately $111,562,000. Jennison Associates LLC boosted its stake in Toll Brothers by 38.7% in 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 in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Toll Brothers in the third quarter valued at approximately $38,985,000. Finally, Empowered Funds LLC boosted its stake in Toll Brothers by 228.1% in the fourth quarter. Empowered Funds LLC now owns 232,180 shares of the construction company’s stock valued at $29,243,000 after acquiring an additional 161,408 shares in the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Toll Brothers Trading Down 1.6 %

NYSE TOL opened at $109.40 on Friday. The company has a market capitalization of $10.93 billion, a PE ratio of 7.53, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a fifty day moving average of $125.14 and a 200 day moving average of $140.12. Toll Brothers, Inc. has a 1 year low of $105.73 and a 1 year high of $169.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.65 and a quick ratio of 0.80.

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

Toll Brothers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 10th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.92 dividend on an annualized basis and a yield of 0.84%. Toll Brothers’s dividend payout ratio is presently 6.33%.

Insider Activity at Toll Brothers

In other news, Director Christine Garvey sold 420 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $110.58, for a total transaction of $46,443.60. Following the sale, the director now directly owns 13,186 shares of the company’s stock, valued at $1,458,107.88. This represents a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul E. Shapiro sold 3,837 shares of the 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 sale, the director now directly owns 119,937 shares in the company, valued at approximately $16,088,349.18. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,622 shares of company stock worth $1,993,880 over the last three months. Company insiders own 1.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TOL shares. Wedbush restated an “outperform” rating and issued a $175.00 target price on shares of Toll Brothers in a research note on Friday, February 14th. UBS Group lowered their target price on shares of Toll Brothers from $185.00 to $183.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Oppenheimer lowered their target price on shares of Toll Brothers from $189.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. The Goldman Sachs Group lowered their target price on shares of Toll Brothers from $143.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lowered their target price on shares of Toll Brothers from $170.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.57.

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.