Toll Brothers Inc (NYSE:TOL) shares dropped 5.9% during trading on Thursday . The stock traded as low as $29.25 and last traded at $29.94. Approximately 5,646,027 shares traded hands during trading, an increase of 119% from the average daily volume of 2,577,218 shares. The stock had previously closed at $31.83.
Several research firms recently weighed in on TOL. ValuEngine cut Toll Brothers from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Zacks Investment Research cut Toll Brothers from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Deutsche Bank cut Toll Brothers from a “buy” rating to a “hold” rating and dropped their price objective for the company from $51.00 to $29.00 in a report on Monday, October 22nd. Bank of America cut Toll Brothers from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a report on Thursday, October 18th. Finally, Barclays reaffirmed a “sell” rating and issued a $37.00 price objective (down from $39.00) on shares of Toll Brothers in a report on Friday, September 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $47.56.
The stock has a market cap of $4.71 billion, a P/E ratio of 9.44, a PEG ratio of 0.39 and a beta of 1.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 6.98 and a quick ratio of 0.88.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, October 11th. Toll Brothers’s dividend payout ratio is 13.88%.
In other news, Director Edward G. Boehne sold 17,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $37.64, for a total value of $639,880.00. Following the transaction, the director now directly owns 99,598 shares of the company’s stock, valued at approximately $3,748,868.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.01% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of TOL. Truvestments Capital LLC acquired a new position in Toll Brothers during the 3rd quarter worth approximately $119,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Toll Brothers by 186.7% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,300 shares of the construction company’s stock worth $159,000 after buying an additional 2,800 shares during the period. Parallel Advisors LLC raised its stake in Toll Brothers by 1,850.4% during the 2nd quarter. Parallel Advisors LLC now owns 5,227 shares of the construction company’s stock worth $193,000 after buying an additional 4,959 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in shares of Toll Brothers in the second quarter worth approximately $201,000. Finally, Creative Planning purchased a new stake in shares of Toll Brothers in the second quarter worth approximately $210,000. 81.69% of the stock is currently owned by institutional investors and hedge funds.
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Toll Brothers Company Profile (NYSE:TOL)
Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates through two segments, Traditional Home Building and City Living. It also builds and sells homes in urban infill markets through Toll Brothers City Living.
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