Toll Brothers, Inc. (NYSE:TOL) Plans $0.23 Quarterly Dividend

Toll Brothers, Inc. (NYSE:TOL) announced a quarterly dividend on Tuesday, September 17th, NASDAQ reports. Shareholders of record on Friday, October 11th will be given 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 increased its dividend payment by an average of 23.6% annually over the last three years. Toll Brothers has a payout ratio of 6.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.3 %

Shares of TOL stock traded down $0.51 during trading hours on Wednesday, reaching $150.15. The company had a trading volume of 1,805,954 shares, compared to its average volume of 1,406,255. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57. Toll Brothers has a 1-year low of $68.08 and a 1-year high of $154.62. The company has a 50 day moving average of $135.72 and a 200 day moving average of $125.92. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 1.19 and a beta of 1.67.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.29. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.73 EPS. On average, equities research analysts anticipate that Toll Brothers will post 13.31 EPS for the current year.

Insider Transactions at Toll Brothers

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

Analysts Set New Price Targets

Several analysts recently commented on TOL shares. Argus raised their price objective on Toll Brothers from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Wedbush boosted their price objective on Toll Brothers from $120.00 to $148.00 and gave the company a “neutral” rating in a research report on Tuesday, August 27th. Bank of America raised their target price on shares of Toll Brothers from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. The Goldman Sachs Group upgraded shares of Toll Brothers from a “sell” rating to a “neutral” rating and upped their price target for the company from $112.00 to $124.00 in a report on Monday, June 17th. Finally, Seaport Res Ptn lowered shares of Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.