Royal Bank of Canada Raises Toll Brothers (NYSE:TOL) Price Target to $130.00

Toll Brothers (NYSE:TOL) had its target price raised by Royal Bank of Canada from $122.00 to $130.00 in a research report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

A number of other equities research analysts have also recently commented on TOL. Oppenheimer lifted their price objective on Toll Brothers from $141.00 to $157.00 and gave the stock an outperform rating in a research note on Thursday, March 21st. StockNews.com raised Toll Brothers from a hold rating to a buy rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Toll Brothers from $120.00 to $135.00 and gave the stock an outperform rating in a research note on Wednesday, February 28th. Raymond James reiterated a strong-buy rating and issued a $145.00 target price (up from $135.00) on shares of Toll Brothers in a report on Thursday. Finally, The Goldman Sachs Group boosted their price target on shares of Toll Brothers from $94.00 to $96.00 and gave the company a sell rating in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $123.07.

Toll Brothers Stock Up 2.8 %

Shares of NYSE TOL opened at $122.91 on Thursday. Toll Brothers has a 1 year low of $66.17 and a 1 year high of $135.37. The firm’s 50-day moving average is $123.21 and its 200-day moving average is $108.13. The company has a current ratio of 4.59, a quick ratio of 0.65 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $12.80 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 0.99 and a beta of 1.67.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, May 21st. The construction company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.13 by ($0.75). Toll Brothers had a net margin of 15.07% and a return on equity of 20.91%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the business posted $2.85 earnings per share. Toll Brothers’s revenue was up 13.2% compared to the same quarter last year. Equities analysts expect that Toll Brothers will post 12.92 EPS for the current year.

Toll Brothers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, April 4th. This is an increase from Toll Brothers’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.75%. Toll Brothers’s dividend payout ratio (DPR) is presently 6.28%.

Insider Activity at Toll Brothers

In other Toll Brothers news, CFO Martin P. Connor sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $116.05, for a total transaction of $580,250.00. Following the completion of the transaction, the chief financial officer now owns 49,721 shares of the company’s stock, valued at approximately $5,770,122.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Stephen F. East sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $119.32, for a total value of $178,980.00. Following the completion of the transaction, the director now owns 9,389 shares in the company, valued at approximately $1,120,295.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin P. Connor sold 5,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $116.05, for a total value of $580,250.00. Following the sale, the chief financial officer now owns 49,721 shares in the company, valued at approximately $5,770,122.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,500 shares of company stock valued at $7,881,930. 1.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Toll Brothers by 70.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,947 shares of the construction company’s stock valued at $366,000 after buying an additional 2,052 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Toll Brothers by 26.1% in the 3rd quarter. Fifth Third Bancorp now owns 754 shares of the construction company’s stock valued at $56,000 after acquiring an additional 156 shares during the period. M&T Bank Corp increased its stake in shares of Toll Brothers by 1.6% during the 3rd quarter. M&T Bank Corp now owns 14,048 shares of the construction company’s stock worth $1,039,000 after purchasing an additional 226 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Toll Brothers by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 404,779 shares of the construction company’s stock valued at $29,937,000 after purchasing an additional 16,187 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Toll Brothers by 11.6% during the third quarter. California Public Employees Retirement System now owns 222,886 shares of the construction company’s stock worth $16,485,000 after purchasing an additional 23,251 shares during the period. Institutional investors and hedge funds own 91.76% 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.