Toll Brothers (NYSE:TOL) Issues Quarterly Earnings Results

Toll Brothers (NYSE:TOL – Get Rating) released its quarterly earnings results on Tuesday. The construction company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.96, Briefing.com reports. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Toll Brothers had a return on equity of 21.02% and a net margin of 12.92%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 EPS.

Toll Brothers Stock Performance

Toll Brothers stock traded up $1.34 during trading hours on Wednesday, hitting $65.09. 3,345,172 shares of the stock traded hands, compared to its average volume of 1,448,455. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 5.63, a P/E/G ratio of 0.68 and a beta of 1.38. The firm’s 50 day moving average price is $61.37 and its 200-day moving average price is $56.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.59 and a quick ratio of 0.78. Toll Brothers has a 1 year low of $39.53 and a 1 year high of $67.54.

Toll Brothers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Thursday, April 6th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, April 5th. This is an increase from Toll Brothers’s previous quarterly dividend of $0.20. Toll Brothers’s payout ratio is presently 7.29%.

Insider Activity

In other news, Director Carl B. Marbach sold 10,000 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $58.69, for a total value of $586,900.00. Following the completion of the transaction, the director now owns 65,066 shares of the company’s stock, valued at approximately $3,818,723.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Toll Brothers news, Director Carl B. Marbach sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $58.69, for a total transaction of $586,900.00. Following the completion of the sale, the director now directly owns 65,066 shares in the company, valued at approximately $3,818,723.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christine Garvey sold 2,980 shares of the business’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $60.13, for a total value of $179,187.40. Following the sale, the director now owns 8,284 shares of the company’s stock, valued at $498,116.92. The disclosure for this sale can be found here. Insiders sold a total of 14,105 shares of company stock valued at $831,824 in the last quarter. 1.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Toll Brothers

A number of large investors have recently made changes to their positions in TOL. Dark Forest Capital Management LP purchased a new stake in shares of Toll Brothers in the first quarter valued at approximately $38,000. ICA Group Wealth Management LLC purchased a new stake in shares of Toll Brothers in the fourth quarter valued at approximately $50,000. Global Wealth Management Investment Advisory Inc. grew its position in shares of Toll Brothers by 42.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 1,350 shares of the construction company’s stock valued at $63,000 after purchasing an additional 400 shares in the last quarter. Covestor Ltd grew its position in shares of Toll Brothers by 120.5% in the first quarter. Covestor Ltd now owns 1,495 shares of the construction company’s stock valued at $70,000 after purchasing an additional 817 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Toll Brothers in the fourth quarter valued at approximately $80,000. 82.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on TOL. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Toll Brothers in a report on Thursday, February 23rd. Bank of America raised their price objective on Toll Brothers from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Credit Suisse Group raised their price objective on Toll Brothers from $63.00 to $73.00 in a research note on Wednesday. Raymond James raised their price objective on Toll Brothers from $61.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. Finally, StockNews.com lowered Toll Brothers from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.17.

About Toll Brothers

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Toll Brothers, Inc engages in the design, building, marketing, and arranging of financing for detached and attached homes in residential communities. It operates through the following segments: Traditional Home Building and City Living. The Traditional Home Building segment builds and sells homes for detached and attached homes in luxury residential communities in affluent suburban markets and caters to move-up, empty-nester, active-adult, age-qualified, and second-home buyers.