Toll Brothers, Inc. (NYSE:TOL) Announces $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 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, October 11th.

Toll Brothers has raised its dividend 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. 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

Shares of TOL traded down $0.51 during midday trading on Wednesday, reaching $150.15. 1,805,954 shares of the stock were exchanged, compared to its average volume of 1,406,255. The stock’s 50 day simple moving average is $135.72 and its 200 day simple moving average is $125.92. The company has a market cap of $15.41 billion, a P/E ratio of 10.29, a PEG ratio of 1.19 and a beta of 1.67. Toll Brothers has a twelve month low of $68.08 and a twelve month high of $154.62. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38.

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, topping the consensus estimate of $3.31 by $0.29. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company earned $3.73 EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that Toll Brothers will post 13.31 earnings per share for the current year.

Insider Buying and Selling at Toll Brothers

In related news, CEO Douglas C. Jr. Yearley sold 87,584 shares of Toll Brothers stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the sale, the chief executive officer now directly owns 346,382 shares in the company, valued at approximately $51,087,881.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Toll Brothers news, CFO Martin P. Connor sold 22,673 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $143.28, for a total value of $3,248,587.44. Following the sale, the chief financial officer now owns 14,721 shares in the company, valued at approximately $2,109,224.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $147.49, for a total value of $12,917,764.16. Following the transaction, the chief executive officer now owns 346,382 shares of the company’s stock, valued at $51,087,881.18. The disclosure for this sale can be found here. Corporate insiders own 1.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TOL. StockNews.com downgraded Toll Brothers from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Evercore ISI raised their price target on Toll Brothers from $177.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada boosted their price target on Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Oppenheimer increased their price objective on shares of Toll Brothers from $157.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $142.00 target price on shares of Toll Brothers in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Toll Brothers currently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Toll Brothers Company Profile

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.