Victory Capital Management Inc. Trims Holdings in Toll Brothers Inc (TOL)

Victory Capital Management Inc. reduced its stake in Toll Brothers Inc (NYSE:TOL) by 81.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,972 shares of the construction company’s stock after selling 304,129 shares during the period. Victory Capital Management Inc.’s holdings in Toll Brothers were worth $2,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TOL. Bridgewater Associates LP increased its holdings in Toll Brothers by 349.6% in the 2nd quarter. Bridgewater Associates LP now owns 1,027,048 shares of the construction company’s stock valued at $37,991,000 after acquiring an additional 798,617 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Toll Brothers by 534.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 712,250 shares of the construction company’s stock valued at $26,346,000 after acquiring an additional 600,000 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Toll Brothers by 2,332.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 327,366 shares of the construction company’s stock valued at $582,000 after acquiring an additional 313,908 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Toll Brothers by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,490,892 shares of the construction company’s stock valued at $129,127,000 after acquiring an additional 309,953 shares during the last quarter. Finally, Putnam Investments LLC bought a new stake in Toll Brothers in the 2nd quarter valued at $10,815,000. Institutional investors own 82.02% of the company’s stock.

TOL stock opened at $32.60 on Friday. Toll Brothers Inc has a 12 month low of $28.68 and a 12 month high of $52.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 6.98 and a quick ratio of 0.88. The stock has a market cap of $4.80 billion, a P/E ratio of 8.47, a PEG ratio of 0.40 and a beta of 1.17.

The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 12th were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, October 11th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.35%. Toll Brothers’s dividend payout ratio is presently 13.88%.

A number of research firms have recently weighed in on TOL. Bank of America set a $47.00 target price on shares of Toll Brothers and gave the stock a “buy” rating in a report on Thursday, October 11th. Mizuho set a $46.00 target price on shares of Toll Brothers and gave the stock a “buy” rating in a report on Friday, August 31st. Raymond James restated a “buy” rating and issued a $44.00 target price (down from $50.00) on shares of Toll Brothers in a report on Thursday, August 23rd. ValuEngine upgraded shares of Toll Brothers from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Finally, Zacks Investment Research downgraded shares of Toll Brothers from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Toll Brothers presently has an average rating of “Hold” and an average price target of $47.56.

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Toll Brothers Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates through two segments, Traditional Home Building and City Living. It also builds and sells homes in urban infill markets through Toll Brothers City Living.

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Institutional Ownership by Quarter for Toll Brothers (NYSE:TOL)

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