Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Toll Brothers Inc. (NYSE:TOL) in a research note released on Sunday, October 8th. Keefe, Bruyette & Woods currently has a $40.00 price objective on the construction company’s stock.
A number of other equities analysts also recently commented on TOL. Zacks Investment Research upgraded shares of Toll Brothers from a hold rating to a buy rating and set a $44.00 target price for the company in a report on Tuesday, August 8th. KeyCorp reiterated a hold rating on shares of Toll Brothers in a report on Tuesday, September 26th. Royal Bank Of Canada reiterated a buy rating and issued a $45.00 target price on shares of Toll Brothers in a report on Monday, September 25th. Wedbush restated a neutral rating and set a $37.00 price objective (down previously from $40.00) on shares of Toll Brothers in a report on Tuesday, August 22nd. Finally, Bank of America Corporation upped their price objective on shares of Toll Brothers from $43.00 to $46.00 and gave the company a buy rating in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $41.00.
Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, August 22nd. The construction company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.19. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. Toll Brothers had a net margin of 8.12% and a return on equity of 10.44%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, October 12th. Toll Brothers’s dividend payout ratio is currently 11.90%.
In other Toll Brothers news, Director Carl B. Marbach sold 12,900 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $39.97, for a total value of $515,613.00. Following the completion of the sale, the director now directly owns 114,149 shares of the company’s stock, valued at approximately $4,562,535.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Braemer sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $37.88, for a total value of $284,100.00. Following the completion of the sale, the director now directly owns 110,373 shares of the company’s stock, valued at $4,180,929.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,650 shares of company stock valued at $1,574,538. 8.78% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. James Investment Research Inc. acquired a new stake in shares of Toll Brothers during the 2nd quarter worth about $1,375,000. Prudential Financial Inc. increased its position in shares of Toll Brothers by 42.9% during the 2nd quarter. Prudential Financial Inc. now owns 1,433,541 shares of the construction company’s stock worth $56,639,000 after purchasing an additional 430,220 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Toll Brothers by 6.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 152,760 shares of the construction company’s stock worth $6,040,000 after purchasing an additional 9,723 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Toll Brothers by 6.1% during the 2nd quarter. Principal Financial Group Inc. now owns 637,062 shares of the construction company’s stock worth $25,170,000 after purchasing an additional 36,729 shares during the last quarter. Finally, Andra AP fonden increased its position in shares of Toll Brothers by 11.6% during the 2nd quarter. Andra AP fonden now owns 71,300 shares of the construction company’s stock worth $2,817,000 after purchasing an additional 7,400 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.
About Toll Brothers
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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