Toll Brothers Inc to Issue Quarterly Dividend of $0.11 (NYSE:TOL)
Toll Brothers Inc (NYSE:TOL) declared a quarterly dividend on Tuesday, June 18th, RTT News reports. Stockholders of record on Friday, July 12th will be given a dividend of 0.11 per share by the construction company on Friday, July 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, July 11th.
Toll Brothers has a dividend payout ratio of 9.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Toll Brothers to earn $4.28 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 10.3%.
TOL stock opened at $36.25 on Wednesday. The company has a fifty day moving average of $36.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.30 and a current ratio of 7.68. The firm has a market cap of $5.22 billion, a P/E ratio of 7.70, a P/E/G ratio of 1.10 and a beta of 1.01. Toll Brothers has a twelve month low of $28.68 and a twelve month high of $39.80.
Several brokerages recently commented on TOL. ValuEngine raised Toll Brothers from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Zacks Investment Research raised Toll Brothers from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Barclays set a $33.00 price objective on Toll Brothers and gave the stock a “sell” rating in a research note on Thursday, March 28th. Royal Bank of Canada set a $37.00 price objective on Toll Brothers and gave the stock a “hold” rating in a research note on Thursday, May 23rd. Finally, Raymond James downgraded Toll Brothers from an “outperform” rating to a “market perform” rating and set a $35.39 price objective on the stock. in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $35.84.
In other Toll Brothers news, Director Carl B. Marbach sold 3,000 shares of Toll Brothers stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $35.14, for a total value of $105,420.00. Following the sale, the director now owns 85,463 shares of the company’s stock, valued at approximately $3,003,169.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward G. Boehne sold 17,000 shares of Toll Brothers stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $37.01, for a total value of $629,170.00. Following the completion of the sale, the director now directly owns 64,304 shares in the company, valued at approximately $2,379,891.04. The disclosure for this sale can be found here. Insiders have sold a total of 24,200 shares of company stock worth $897,952 in the last ninety days. 9.69% of the stock is currently owned by company insiders.
About Toll Brothers
Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and City Living. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.
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