Toll Brothers (NYSE:TOL) Trading Down 3.2% – Here’s What Happened

Toll Brothers, Inc. (NYSE:TOL) traded down 3.2% during mid-day trading on Wednesday . The stock traded as low as $156.71 and last traded at $157.20. 320,942 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,339,313 shares. The stock had previously closed at $162.34.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays lifted their target price on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Wells Fargo & Company lifted their target price on shares of Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Oppenheimer lifted their target price on shares of Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Bank of America lifted their target price on shares of Toll Brothers from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada lifted their target price on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Toll Brothers Price Performance

The stock has a market capitalization of $15.70 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.23 and a beta of 1.69. The business’s fifty day moving average price is $153.90 and its 200-day moving average price is $138.05. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Friday, October 11th. Toll Brothers’s dividend payout ratio is currently 6.34%.

Insider Buying and Selling

In related news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the transaction, the chief executive officer now directly owns 221,382 shares in the company, valued at approximately $35,029,273.86. The trade was a 10.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin P. Connor sold 5,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $155.44, for a total transaction of $777,200.00. Following the transaction, the chief financial officer now owns 9,721 shares in the company, valued at approximately $1,511,032.24. This trade represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,000 shares of company stock worth $16,435,800. 1.54% of the stock is owned by insiders.

Institutional Trading of Toll Brothers

Hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in Toll Brothers in the third quarter worth about $27,000. Brooklyn Investment Group bought a new stake in Toll Brothers in the third quarter worth about $27,000. Larson Financial Group LLC raised its position in Toll Brothers by 57.9% in the third quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock worth $28,000 after acquiring an additional 66 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Toll Brothers in the second quarter worth about $29,000. Finally, Massmutual Trust Co. FSB ADV raised its position in Toll Brothers by 114.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock worth $31,000 after acquiring an additional 142 shares during the period. Institutional investors own 91.76% of the company’s stock.

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.