California Public Employees Retirement System Has $22.59 Million Position in Toll Brothers, Inc. (NYSE:TOL)

California Public Employees Retirement System lowered its holdings in shares of Toll Brothers, Inc. (NYSE:TOL) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 219,792 shares of the construction company’s stock after selling 3,094 shares during the quarter. California Public Employees Retirement System’s holdings in Toll Brothers were worth $22,592,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Castleview Partners LLC acquired a new stake in shares of Toll Brothers during the third quarter worth about $37,000. IFP Advisors Inc raised its position in shares of Toll Brothers by 87.1% during the third quarter. IFP Advisors Inc now owns 494 shares of the construction company’s stock worth $37,000 after purchasing an additional 230 shares during the period. Baker Avenue Asset Management LP raised its position in shares of Toll Brothers by 23.1% during the third quarter. Baker Avenue Asset Management LP now owns 677 shares of the construction company’s stock worth $50,000 after purchasing an additional 127 shares during the period. Fifth Third Bancorp grew its holdings in shares of Toll Brothers by 26.1% during the third quarter. Fifth Third Bancorp now owns 754 shares of the construction company’s stock worth $56,000 after buying an additional 156 shares in the last quarter. Finally, Western Pacific Wealth Management LP grew its holdings in shares of Toll Brothers by 103.3% during the third quarter. Western Pacific Wealth Management LP now owns 1,220 shares of the construction company’s stock worth $90,000 after buying an additional 620 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TOL shares. Wedbush reiterated a “neutral” rating and set a $87.00 price objective on shares of Toll Brothers in a report on Wednesday, February 21st. StockNews.com upgraded Toll Brothers from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company increased their price objective on Toll Brothers from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. The Goldman Sachs Group increased their price objective on Toll Brothers from $94.00 to $96.00 and gave the stock a “sell” rating in a report on Thursday, February 22nd. Finally, Wolfe Research upgraded Toll Brothers from a “peer perform” rating to an “outperform” rating and set a $118.00 price target for the company in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toll Brothers currently has an average rating of “Moderate Buy” and a consensus price target of $113.80.

Toll Brothers Stock Performance

Shares of NYSE TOL opened at $120.22 on Monday. The company has a current ratio of 4.95, a quick ratio of 0.65 and a debt-to-equity ratio of 0.39. Toll Brothers, Inc. has a 12 month low of $61.70 and a 12 month high of $130.63. The stock has a 50 day moving average of $118.95 and a 200-day moving average of $100.90. The company has a market capitalization of $12.52 billion, a P/E ratio of 9.29, a P/E/G ratio of 1.00 and a beta of 1.66.

Toll Brothers (NYSE:TOL) last issued its earnings results on Wednesday, February 21st. The construction company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.77 by $0.48. Toll Brothers had a return on equity of 21.04% and a net margin of 13.97%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company posted $1.70 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Toll Brothers, Inc. will post 13.71 EPS for the current year.

Toll Brothers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were paid a dividend of $0.23 per share. This is an increase from Toll Brothers’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, April 4th. Toll Brothers’s payout ratio is currently 7.11%.

Insider Transactions at Toll Brothers

In other news, CFO Martin P. Connor sold 5,000 shares of Toll Brothers stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $116.05, for a total transaction of $580,250.00. Following the completion of the transaction, the chief financial officer now directly owns 49,721 shares in the company, valued at approximately $5,770,122.05. The sale was disclosed in a filing 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 that occurred on Friday, March 1st. The stock was 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 approximately $5,770,122.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 50,000 shares of Toll Brothers stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $118.85, for a total value of $5,942,500.00. Following the sale, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at $41,167,500.70. The disclosure for this sale can be found here. In the last three months, insiders sold 66,500 shares of company stock worth $7,881,930. 1.54% of the stock is owned by company insiders.

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.