Pacer Advisors Inc. Sells 19,291 Shares of Toll Brothers Inc. (NYSE:TOL)

Pacer Advisors Inc. reduced its stake in shares of Toll Brothers Inc. (NYSE:TOL) by 67.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,362 shares of the construction company’s stock after selling 19,291 shares during the period. Pacer Advisors Inc.’s holdings in Toll Brothers were worth $989,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sound Income Strategies LLC boosted its holdings in shares of Toll Brothers by 84.2% during the 1st quarter. Sound Income Strategies LLC now owns 245 shares of the construction company’s stock worth $26,000 after buying an additional 112 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Toll Brothers by 152.6% during the first quarter. Larson Financial Group LLC now owns 293 shares of the construction company’s stock worth $31,000 after buying an additional 177 shares during the last quarter. Quarry LP boosted its position in shares of Toll Brothers by 1,035.7% in the fourth quarter. Quarry LP now owns 318 shares of the construction company’s stock valued at $40,000 after acquiring an additional 290 shares during the period. Bessemer Group Inc. grew its stake in shares of Toll Brothers by 46.6% in the fourth quarter. Bessemer Group Inc. now owns 327 shares of the construction company’s stock worth $41,000 after acquiring an additional 104 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in Toll Brothers by 415.0% during the first quarter. Sunbelt Securities Inc. now owns 515 shares of the construction company’s stock worth $54,000 after acquiring an additional 415 shares during the period. Institutional investors and hedge funds own 91.76% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Michael J. Grubb sold 500 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $120.00, for a total transaction of $60,000.00. Following the transaction, the chief accounting officer owned 2,439 shares in the company, valued at $292,680. This represents a 17.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine Garvey sold 770 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $119.82, for a total transaction of $92,261.40. Following the completion of the sale, the director owned 11,590 shares of the company’s stock, valued at $1,388,713.80. The trade was a 6.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,770 shares of company stock valued at $440,586. 1.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TOL has been the subject of several research analyst reports. Oppenheimer cut their target price on shares of Toll Brothers from $165.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. Royal Bank Of Canada decreased their price objective on Toll Brothers from $139.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Raymond James Financial reiterated a “strong-buy” rating and set a $130.00 price target (down previously from $145.00) on shares of Toll Brothers in a research note on Friday, May 23rd. Evercore ISI reissued an “outperform” rating and issued a $169.00 price target (up previously from $167.00) on shares of Toll Brothers in a report on Thursday, May 22nd. Finally, Seaport Res Ptn upgraded shares of Toll Brothers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.85.

Toll Brothers Trading Down 2.9%

Shares of TOL stock opened at $119.34 on Thursday. The company has a market capitalization of $11.72 billion, a P/E ratio of 8.85, a P/E/G ratio of 1.28 and a beta of 1.36. Toll Brothers Inc. has a 12-month low of $86.67 and a 12-month high of $169.52. The company has a quick ratio of 0.44, a current ratio of 4.21 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $113.33 and a 200 day moving average price of $112.23.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, May 20th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.64. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Toll Brothers had a net margin of 12.95% and a return on equity of 17.87%. Toll Brothers’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.38 earnings per share. Research analysts forecast that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, July 11th. Toll Brothers’s dividend payout ratio is currently 7.42%.

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.