Freedom Investment Management Inc. Trims Stake in Toll Brothers, Inc. (NYSE:TOL)

Freedom Investment Management Inc. cut its stake in Toll Brothers, Inc. (NYSE:TOL) by 14.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,814 shares of the construction company’s stock after selling 817 shares during the period. Freedom Investment Management Inc.’s holdings in Toll Brothers were worth $744,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Toll Brothers in the 3rd quarter valued at approximately $27,000. Brooklyn Investment Group purchased a new position in Toll Brothers in the 3rd quarter worth about $27,000. Larson Financial Group LLC lifted its position in Toll Brothers by 57.9% during the third quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock valued at $28,000 after purchasing an additional 66 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Toll Brothers in the second quarter worth $29,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Toll Brothers by 114.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock valued at $31,000 after purchasing an additional 142 shares during the last quarter. 91.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America raised their target price on Toll Brothers from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada raised their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company upped their target price on shares of Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Wedbush raised Toll Brothers from a “neutral” rating to an “outperform” rating and raised their price target for the company from $148.00 to $175.00 in a report on Friday, October 25th. Finally, Oppenheimer upped their price objective on Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

Insider Activity

In other news, Director John A. Mclean sold 1,000 shares of Toll Brothers stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $151.10, for a total transaction of $151,100.00. Following the completion of the sale, the director now directly owns 9,944 shares in the company, valued at approximately $1,502,538.40. This trade represents a 9.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $153.05, for a total transaction of $3,826,250.00. Following the completion of the transaction, the chief executive officer now directly owns 296,382 shares in the company, valued at $45,361,265.10. This represents a 7.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,000 shares of company stock valued at $16,435,800. 1.54% of the stock is currently owned by company insiders.

Toll Brothers Trading Up 0.4 %

Shares of TOL stock opened at $164.75 on Friday. The company has a market cap of $16.63 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.23 and a beta of 1.68. Toll Brothers, Inc. has a 1 year low of $84.40 and a 1 year high of $169.52. The stock’s 50 day simple moving average is $153.22 and its two-hundred day simple moving average is $137.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57.

Toll Brothers Dividend Announcement

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

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.