Insider Selling: Toll Brothers (NYSE:TOL) Director Sells 800 Shares of Stock

Toll Brothers Inc. (NYSE:TOL) Director Stephen East sold 800 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $135.99, for a total value of $108,792.00. Following the completion of the sale, the director directly owned 12,642 shares in the company, valued at approximately $1,719,185.58. The trade was a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Toll Brothers Price Performance

Shares of NYSE TOL traded up $1.27 during midday trading on Friday, hitting $137.19. 1,596,696 shares of the company’s stock were exchanged, compared to its average volume of 1,133,485. Toll Brothers Inc. has a 12-month low of $123.14 and a 12-month high of $168.36. The company has a current ratio of 4.53, a quick ratio of 0.55 and a debt-to-equity ratio of 0.32. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.11 and a beta of 1.34. The business’s fifty day moving average price is $144.48 and its two-hundred day moving average price is $143.43.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, August 18th. The construction company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.04. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the firm posted $3.73 earnings per share. Toll Brothers’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, research analysts forecast that Toll Brothers Inc. will post 12.81 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 9th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. Toll Brothers’s dividend payout ratio is presently 8.35%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TOL. Benchmark started coverage on shares of Toll Brothers in a research report on Tuesday, June 9th. They issued a “buy” rating for the company. Citigroup raised their price target on Toll Brothers from $176.00 to $179.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Keefe, Bruyette & Woods lifted their price target on Toll Brothers from $161.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Truist Financial upped their price objective on Toll Brothers from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Piper Sandler lowered Toll Brothers from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. Twelve research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $166.93.

Institutional Trading of Toll Brothers

Several hedge funds have recently added to or reduced their stakes in TOL. BlackRock Inc. purchased a new position in shares of Toll Brothers in the second quarter worth $1,610,696,000. Norges Bank purchased a new stake in Toll Brothers during the 4th quarter valued at $168,312,000. Bamco Inc. NY bought a new stake in Toll Brothers in the 2nd quarter worth $166,250,000. Bank of New York Mellon Corp purchased a new position in shares of Toll Brothers in the second quarter valued at about $164,804,000. Finally, Bank of America Corp DE purchased a new position in shares of Toll Brothers in the second quarter valued at about $125,912,000. 91.76% of the stock is owned by institutional investors.

About Toll Brothers

Toll Brothers, Inc is a luxury homebuilding company that designs, constructs, markets and sells residential properties in the United States. The company develops communities featuring single-family detached homes, townhomes and condominiums, as well as active-adult communities and urban high-rise residences. Its offerings generally target move-up, luxury and resort-style homebuyers, with homes available in a range of designs, locations and customization options.

Through related operations, Toll Brothers also provides mortgage financing, title and settlement services, homeowners insurance and other services that support the home purchase process.