Bank of New York Mellon Corp Acquires 78,109 Shares of Toll Brothers, Inc. (NYSE:TOL)

Bank of New York Mellon Corp raised its holdings in shares of Toll Brothers, Inc. (NYSE:TOL – Get Rating) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,019,933 shares of the construction company’s stock after acquiring an additional 78,109 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.73% of Toll Brothers worth $126,838,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TOL. Balyasny Asset Management LLC boosted its position in shares of Toll Brothers by 11,994.2% during the third quarter. Balyasny Asset Management LLC now owns 1,057,878 shares of the construction company’s stock valued at $44,430,000 after buying an additional 1,049,131 shares during the period. Vanguard Group Inc. grew its holdings in Toll Brothers by 9.1% in the first quarter. Vanguard Group Inc. now owns 11,623,797 shares of the construction company’s stock worth $546,551,000 after purchasing an additional 968,528 shares during the last quarter. Ceredex Value Advisors LLC grew its holdings in Toll Brothers by 106.1% in the third quarter. Ceredex Value Advisors LLC now owns 1,665,339 shares of the construction company’s stock worth $69,944,000 after purchasing an additional 857,481 shares during the last quarter. Prudential Financial Inc. grew its holdings in Toll Brothers by 164.7% in the first quarter. Prudential Financial Inc. now owns 1,274,947 shares of the construction company’s stock worth $59,949,000 after purchasing an additional 793,239 shares during the last quarter. Finally, Wasatch Advisors Inc. purchased a new position in Toll Brothers in the first quarter worth $22,855,000. 82.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Carl B. Marbach sold 10,000 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $58.69, for a total transaction of $586,900.00. Following the completion of the transaction, the director now owns 65,066 shares in the company, valued at approximately $3,818,723.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Carl B. Marbach sold 10,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $58.69, for a total value of $586,900.00. Following the completion of the sale, the director now owns 65,066 shares of the company’s stock, valued at approximately $3,818,723.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul E. Shapiro sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $58.38, for a total transaction of $58,380.00. Following the transaction, the director now directly owns 136,098 shares of the company’s stock, valued at approximately $7,945,401.24. The disclosure for this sale can be found here. Insiders sold a total of 51,325 shares of company stock worth $2,854,256 in the last 90 days. Insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on TOL shares. JPMorgan Chase & Co. raised shares of Toll Brothers from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $47.00 to $58.00 in a report on Tuesday, November 22nd. Bank of America boosted their price objective on shares of Toll Brothers from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Barclays boosted their price objective on shares of Toll Brothers from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Thursday, December 8th. UBS Group boosted their price objective on shares of Toll Brothers from $65.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Finally, Citigroup boosted their price objective on shares of Toll Brothers to $54.00 in a report on Monday, December 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.33.

Toll Brothers Trading Down 1.9 %

Shares of Toll Brothers stock opened at $57.67 on Friday. The firm has a 50-day simple moving average of $57.89 and a two-hundred day simple moving average of $49.95. The company has a market cap of $6.39 billion, a P/E ratio of 5.00, a price-to-earnings-growth ratio of 0.60 and a beta of 1.39. Toll Brothers, Inc. has a fifty-two week low of $39.53 and a fifty-two week high of $63.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 5.59.

Toll Brothers (NYSE:TOL – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The construction company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.33. Toll Brothers had a net margin of 12.92% and a return on equity of 21.02%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Toll Brothers, Inc. will post 8.66 earnings per share for the current fiscal year.

Toll Brothers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 21st. Investors of record on Thursday, April 6th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, April 5th. This is an increase from Toll Brothers’s previous quarterly dividend of $0.20. Toll Brothers’s dividend payout ratio is 6.94%.

Toll Brothers Profile

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Toll Brothers, Inc engages in the design, building, marketing, and arranging of financing for detached and attached homes in residential communities. It operates through the following segments: Traditional Home Building and City Living. The Traditional Home Building segment builds and sells homes for detached and attached homes in luxury residential communities in affluent suburban markets and caters to move-up, empty-nester, active-adult, age-qualified, and second-home buyers.