Toll Brothers (NYSE:TOL) Research Coverage Started at Melius Research

Melius Research initiated coverage on shares of Toll Brothers (NYSE:TOL) in a research note published on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $179.00 target price on the construction company’s stock.

Several other equities analysts have also recently weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $158.00 target price on shares of Toll Brothers in a research note on Thursday, June 11th. Evercore set a $184.00 price target on shares of Toll Brothers in a research report on Friday, September 25th. Benchmark started coverage on shares of Toll Brothers in a report on Tuesday, June 9th. They set a “buy” rating for the company. UBS Group boosted their price objective on shares of Toll Brothers from $187.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Piper Sandler lowered shares of Toll Brothers from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 9th. Fifteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.94.

Toll Brothers Price Performance

TOL opened at $134.75 on Tuesday. The stock has a fifty day moving average of $141.73 and a 200-day moving average of $143.15. The firm has a market capitalization of $12.42 billion, a P/E ratio of 10.81, a PEG ratio of 1.08 and a beta of 1.31. Toll Brothers has a 12-month low of $123.14 and a 12-month high of $168.36. The company has a quick ratio of 0.55, a current ratio of 4.53 and a debt-to-equity ratio of 0.32.

Toll Brothers (NYSE:TOL) last issued its quarterly 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. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.62 billion. Toll Brothers had a return on equity of 14.21% and a net margin of 11.14%.Toll Brothers’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.73 earnings per share. Equities analysts forecast that Toll Brothers will post 12.8 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 9th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 9th. Toll Brothers’s payout ratio is currently 8.35%.

Insider Buying and Selling

In other news, Director Stephen East sold 800 shares of the stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $135.99, for a total transaction of $108,792.00. Following the transaction, the director owned 12,642 shares in the company, valued at $1,719,185.58. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toll Brothers

Several institutional investors and hedge funds have recently modified their holdings of TOL. BlackRock Inc. acquired a new position in Toll Brothers during the second quarter worth $1,610,696,000. State Street Corp raised its holdings in Toll Brothers by 4.4% during the second quarter. State Street Corp now owns 3,505,828 shares of the construction company’s stock valued at $577,585,000 after buying an additional 146,163 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Toll Brothers by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,990,447 shares of the construction company’s stock worth $408,062,000 after buying an additional 100,718 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Toll Brothers by 30.1% in the first quarter. Jennison Associates LLC now owns 1,418,543 shares of the construction company’s stock worth $193,589,000 after buying an additional 327,953 shares during the last quarter. Finally, Bamco Inc. NY boosted its stake in shares of Toll Brothers by 0.8% during the 4th quarter. Bamco Inc. NY now owns 1,166,270 shares of the construction company’s stock worth $157,703,000 after acquiring an additional 9,385 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

About Toll Brothers

Toll Brothers, Inc is a U.S. luxury homebuilder that designs, constructs, markets and sells single-family homes, townhomes and condominiums. The company serves move-up, luxury, active-adult and urban buyers, offering homes in a range of architectural styles and price points.

Founded in 1967 by brothers Robert I. Toll and Bruce E. Toll, the company develops residential communities on land it acquires and prepares for construction. Its operations also include related services such as mortgage financing, title and settlement services, and property development through its Toll Brothers Apartment Living and Toll Brothers City Living businesses.

Toll Brothers operates across numerous metropolitan and suburban markets in the United States, with a presence in regions including the Northeast, Mid-Atlantic, Southeast, Texas, the Midwest, Arizona and the West Coast.