Toll Brothers Inc. (NYSE:TOL) released its quarterly earnings data on Tuesday. The construction company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.18, MarketWatch Earnings reports. Toll Brothers had a net margin of 7.67% and a return on equity of 9.71%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis.
Toll Brothers (NYSE:TOL) opened at 38.26 on Tuesday. The company’s 50 day moving average is $39.41 and its 200-day moving average is $36.99. Toll Brothers has a 12 month low of $26.65 and a 12 month high of $41.07. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 15.78 and a beta of 1.52.
The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, July 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.84%. Toll Brothers’s dividend payout ratio is 13.17%.
In other Toll Brothers news, Director Richard J. Braemer sold 15,000 shares of Toll Brothers stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $37.74, for a total transaction of $566,100.00. Following the sale, the director now owns 102,873 shares of the company’s stock, valued at approximately $3,882,427.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas C. Jr. Yearley sold 10,000 shares of Toll Brothers stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $38.50, for a total transaction of $385,000.00. Following the sale, the chief executive officer now directly owns 186,372 shares in the company, valued at approximately $7,175,322. The disclosure for this sale can be found here. In the last three months, insiders sold 403,533 shares of company stock valued at $15,456,475. 8.78% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in TOL. Toronto Dominion Bank boosted its stake in shares of Toll Brothers by 5.2% in the second quarter. Toronto Dominion Bank now owns 3,896 shares of the construction company’s stock valued at $154,000 after buying an additional 192 shares during the period. Advisory Services Network LLC boosted its position in shares of Toll Brothers by 99.9% in the second quarter. Advisory Services Network LLC now owns 6,336 shares of the construction company’s stock valued at $250,000 after buying an additional 3,166 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Toll Brothers during the second quarter valued at $1,009,000. WINTON GROUP Ltd boosted its position in shares of Toll Brothers by 220.3% in the second quarter. WINTON GROUP Ltd now owns 69,468 shares of the construction company’s stock valued at $2,745,000 after buying an additional 47,779 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC purchased a new position in shares of Toll Brothers during the second quarter valued at $438,000. 80.32% of the stock is currently owned by institutional investors.
A number of analysts have commented on the stock. Barclays PLC cut shares of Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 target price for the company. in a report on Tuesday, July 11th. Mizuho reaffirmed a “buy” rating on shares of Toll Brothers in a report on Tuesday, July 11th. BidaskClub raised shares of Toll Brothers from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Zacks Investment Research raised 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. Finally, Royal Bank Of Canada upped their target price on shares of Toll Brothers from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Toll Brothers currently has an average rating of “Buy” and an average target price of $39.67.
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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