Mackenzie Financial Corp Sells 36,202 Shares of Toll Brothers, Inc. (NYSE:TOL)

Mackenzie Financial Corp cut its position in shares of Toll Brothers, Inc. (NYSE:TOL) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,254 shares of the construction company’s stock after selling 36,202 shares during the period. Mackenzie Financial Corp’s holdings in Toll Brothers were worth $16,781,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TOL. Vanguard Group Inc. increased its holdings in Toll Brothers by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 11,623,797 shares of the construction company’s stock valued at $546,551,000 after buying an additional 968,528 shares during the period. State Street Corp boosted its position in shares of Toll Brothers by 1.1% during the 1st quarter. State Street Corp now owns 4,070,929 shares of the construction company’s stock valued at $191,415,000 after acquiring an additional 45,004 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Toll Brothers by 10.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,773,505 shares of the construction company’s stock valued at $177,444,000 after acquiring an additional 353,364 shares during the period. Millennium Management LLC raised its position in Toll Brothers by 271.6% in the fourth quarter. Millennium Management LLC now owns 3,096,331 shares of the construction company’s stock worth $154,569,000 after purchasing an additional 2,263,039 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Toll Brothers by 6.0% during the third quarter. AQR Capital Management LLC now owns 2,467,336 shares of the construction company’s stock worth $182,484,000 after purchasing an additional 139,004 shares during the period. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Toll Brothers Stock Performance

Shares of Toll Brothers stock opened at $113.18 on Friday. The firm has a 50 day simple moving average of $117.23 and a 200 day simple moving average of $98.64. Toll Brothers, Inc. has a fifty-two week low of $61.17 and a fifty-two week high of $130.63. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.95 and a quick ratio of 0.65. The firm has a market cap of $11.79 billion, a P/E ratio of 8.75, a P/E/G ratio of 0.94 and a beta of 1.66.

Toll Brothers (NYSE:TOL) last released its earnings results 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. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. Toll Brothers had a return on equity of 21.04% and a net margin of 13.97%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.70 earnings per share. Sell-side analysts predict that Toll Brothers, Inc. will post 13.71 earnings per share for the current fiscal year.

Toll Brothers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from Toll Brothers’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 0.81%. Toll Brothers’s dividend payout ratio is presently 7.11%.

Insider Activity

In related news, CFO Martin P. Connor sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 49,721 shares of the company’s stock, valued at $5,770,122.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Toll Brothers 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 completion of the sale, the chief financial officer now owns 49,721 shares of the company’s stock, valued at approximately $5,770,122.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl B. Marbach sold 10,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $118.02, for a total value of $1,180,200.00. Following the completion of the transaction, the director now directly owns 34,069 shares in the company, valued at approximately $4,020,823.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,500 shares of company stock valued at $7,881,930. 1.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Oppenheimer upped their price objective on Toll Brothers from $141.00 to $157.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Barclays increased their price objective on Toll Brothers from $95.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. Seaport Res Ptn downgraded shares of Toll Brothers from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Wolfe Research upgraded shares of Toll Brothers from a “peer perform” rating to an “outperform” rating and set a $118.00 target price for the company in a research report on Monday, January 8th. Finally, StockNews.com upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Toll Brothers has an average rating of “Moderate Buy” and a consensus price target of $113.80.

Toll Brothers Company 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.