Jennison Associates LLC Increases Stock Position in Toll Brothers, Inc. (NYSE:TOL)

Jennison Associates LLC boosted its stake in Toll Brothers, Inc. (NYSE:TOL) by 41.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 834,899 shares of the construction company’s stock after acquiring an additional 243,553 shares during the period. Jennison Associates LLC owned about 0.80% of Toll Brothers worth $85,819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TOL. IFP Advisors Inc lifted its position in Toll Brothers by 87.1% in the third quarter. IFP Advisors Inc now owns 494 shares of the construction company’s stock valued at $37,000 after acquiring an additional 230 shares during the last quarter. Castleview Partners LLC purchased a new stake in shares of Toll Brothers in the third quarter valued at about $37,000. Baker Avenue Asset Management LP raised its holdings in shares of Toll Brothers by 23.1% in the third quarter. Baker Avenue Asset Management LP now owns 677 shares of the construction company’s stock valued at $50,000 after buying an additional 127 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Toll Brothers by 26.1% in the third quarter. Fifth Third Bancorp now owns 754 shares of the construction company’s stock valued at $56,000 after buying an additional 156 shares during the last quarter. Finally, Western Pacific Wealth Management LP raised its holdings in shares of Toll Brothers by 103.3% in the third quarter. Western Pacific Wealth Management LP now owns 1,220 shares of the construction company’s stock valued at $90,000 after buying an additional 620 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Citigroup upped their target price on shares of Toll Brothers from $116.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upped their target price on shares of Toll Brothers from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Seaport Res Ptn cut shares of Toll Brothers from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Wedbush restated a “neutral” rating and issued a $87.00 price objective on shares of Toll Brothers in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Toll Brothers from $127.00 to $128.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.80.

Insider Buying and Selling at Toll Brothers

In related news, CFO Martin P. Connor sold 5,000 shares of Toll Brothers stock in a transaction on Friday, March 1st. The shares were sold at an average price of $116.05, for a total transaction of $580,250.00. Following the transaction, the chief financial officer now owns 49,721 shares in the company, valued at approximately $5,770,122.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Martin P. Connor sold 5,000 shares of Toll Brothers stock in a transaction on Friday, March 1st. The shares were sold at an average price of $116.05, for a total transaction of $580,250.00. Following the transaction, the chief financial officer now owns 49,721 shares in the company, valued at approximately $5,770,122.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 50,000 shares of Toll Brothers stock in a transaction 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 transaction, the chief executive officer now owns 346,382 shares in the company, valued at approximately $41,167,500.70. The disclosure for this sale can be found here. Insiders have sold a total of 66,500 shares of company stock worth $7,881,930 in the last quarter. 1.54% of the stock is owned by insiders.

Toll Brothers Trading Up 1.4 %

Shares of Toll Brothers stock opened at $113.81 on Tuesday. The company has a current ratio of 4.95, a quick ratio of 0.65 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $117.62 and a two-hundred day moving average of $99.61. Toll Brothers, Inc. has a 12-month low of $61.17 and a 12-month high of $130.63. The stock has a market cap of $11.86 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.48. Toll Brothers had a net margin of 13.97% and a return on equity of 21.04%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the company posted $1.70 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, research analysts anticipate that Toll Brothers, Inc. will post 13.71 EPS for the current fiscal year.

Toll Brothers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Thursday, April 4th. This is a positive change from Toll Brothers’s previous quarterly dividend of $0.21. Toll Brothers’s dividend payout ratio (DPR) is 7.11%.

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.