Verition Fund Management LLC Purchases 69,710 Shares of Toll Brothers, Inc. (NYSE:TOL)

Verition Fund Management LLC lifted its position in Toll Brothers, Inc. (NYSE:TOL) by 135.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 121,357 shares of the construction company’s stock after buying an additional 69,710 shares during the period. Verition Fund Management LLC owned about 0.12% of Toll Brothers worth $18,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Greenhaven Associates Inc. lifted its position in Toll Brothers by 1.0% in the 2nd quarter. Greenhaven Associates Inc. now owns 5,565,787 shares of the construction company’s stock valued at $641,067,000 after acquiring an additional 52,893 shares in the last quarter. FMR LLC lifted its holdings in shares of Toll Brothers by 97.7% during the third quarter. FMR LLC now owns 2,118,459 shares of the construction company’s stock valued at $327,281,000 after purchasing an additional 1,046,758 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Toll Brothers by 34.8% during the second quarter. Pacer Advisors Inc. now owns 2,095,673 shares of the construction company’s stock valued at $241,380,000 after purchasing an additional 541,140 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Toll Brothers by 81.0% during the second quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock valued at $110,993,000 after buying an additional 431,160 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Toll Brothers by 35.1% in the 3rd quarter. Jennison Associates LLC now owns 884,291 shares of the construction company’s stock worth $136,614,000 after buying an additional 229,603 shares in the last quarter. Institutional investors own 91.76% of the company’s stock.

Toll Brothers Trading Up 0.3 %

Toll Brothers stock opened at $165.17 on Friday. Toll Brothers, Inc. has a 12-month low of $84.66 and a 12-month high of $169.52. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.23 and a beta of 1.68. The firm has a 50 day moving average of $153.52 and a 200 day moving average of $137.51. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

Toll Brothers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.23 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. Toll Brothers’s dividend payout ratio (DPR) is presently 6.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TOL. Royal Bank of Canada raised their price target on shares of Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Oppenheimer lifted their target price on shares of Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Seaport Res Ptn lowered shares of Toll Brothers from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 4th. Wells Fargo & Company raised their price target on Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $142.00 price objective on shares of Toll Brothers in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

Insider Activity at Toll Brothers

In other Toll Brothers news, CFO Martin P. Connor sold 5,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $155.44, for a total transaction of $777,200.00. Following the completion of the sale, the chief financial officer now directly owns 9,721 shares of the company’s stock, valued at $1,511,032.24. This trade represents a 33.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the completion of the transaction, the chief executive officer now directly owns 221,382 shares in the company, valued at $35,029,273.86. This trade represents a 10.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,000 shares of company stock worth $16,435,800. 1.54% of the stock is owned by corporate insiders.

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.