Toll Brothers, Inc. (NYSE:TOL) Plans $0.23 Quarterly Dividend

Toll Brothers, Inc. (NYSE:TOL) declared a quarterly dividend on Tuesday, September 17th, NASDAQ reports. Shareholders of record on Friday, October 11th will be paid a dividend of 0.23 per share by the construction company on Friday, October 25th. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date is Friday, October 11th.

Toll Brothers has increased its dividend payment by an average of 23.6% annually over the last three years. Toll Brothers has a payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Toll Brothers to earn $14.59 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 6.3%.

Toll Brothers Stock Performance

TOL opened at $151.00 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52. The stock has a market capitalization of $15.50 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.21 and a beta of 1.66. The company has a fifty day moving average of $142.17 and a 200 day moving average of $129.24. Toll Brothers has a fifty-two week low of $68.08 and a fifty-two week high of $156.08.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Tuesday, August 20th. The construction company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.29. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the business posted $3.73 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Toll Brothers will post 13.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on TOL. Citigroup cut their target price on shares of Toll Brothers from $133.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Wedbush upped their price objective on Toll Brothers from $120.00 to $148.00 and gave the company a “neutral” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group raised Toll Brothers from a “sell” rating to a “neutral” rating and raised their price objective for the company from $112.00 to $124.00 in a research note on Monday, June 17th. Royal Bank of Canada boosted their target price on Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Toll Brothers currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.07.

Insider Activity

In related news, CFO Martin P. Connor sold 22,673 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $143.28, for a total value of $3,248,587.44. Following the completion of the transaction, the chief financial officer now owns 14,721 shares of the company’s stock, valued at $2,109,224.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Toll Brothers news, CFO Martin P. Connor sold 22,673 shares of Toll Brothers stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the completion of the sale, the chief financial officer now owns 14,721 shares of the company’s stock, valued at approximately $2,109,224.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John A. Mclean sold 1,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $151.10, for a total value of $151,100.00. Following the completion of the transaction, the director now directly owns 9,944 shares in the company, valued at $1,502,538.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,257 shares of company stock valued at $28,646,402. Corporate insiders own 1.54% of the company’s stock.

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.