Toll Brothers (NYSE:TOL) Shares Gap Up – Here’s What Happened

Toll Brothers Inc. (NYSE:TOL)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $147.29, but opened at $153.65. Toll Brothers shares last traded at $151.5950, with a volume of 133,472 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Seaport Research Partners reiterated a “neutral” rating on shares of Toll Brothers in a report on Tuesday, April 7th. Evercore upgraded Toll Brothers from an “in-line” rating to an “outperform” rating and set a $176.00 price objective for the company in a research report on Monday, April 13th. Truist Financial reduced their target price on Toll Brothers from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Oppenheimer reissued an “outperform” rating and set a $180.00 price target (up from $177.00) on shares of Toll Brothers in a research note on Thursday, February 19th. Finally, Royal Bank Of Canada lifted their price objective on Toll Brothers from $144.00 to $161.00 and gave the stock an “outperform” rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Toll Brothers presently has an average rating of “Moderate Buy” and an average target price of $164.44.

Toll Brothers Stock Down 0.2%

The company has a quick ratio of 0.62, a current ratio of 4.57 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $145.68 and a two-hundred day simple moving average of $141.25. The company has a market capitalization of $14.01 billion, a P/E ratio of 10.57, a PEG ratio of 1.16 and a beta of 1.49.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, February 17th. The construction company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.14. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Toll Brothers had a return on equity of 16.83% and a net margin of 12.26%.The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, equities analysts predict that Toll Brothers Inc. will post 12.67 EPS for the current year.

Toll Brothers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, April 10th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Toll Brothers’s previous quarterly dividend of $0.25. Toll Brothers’s dividend payout ratio is presently 7.43%.

Insider Activity

In related news, CEO Douglas C. Jr. Yearley sold 45,116 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $160.42, for a total value of $7,237,508.72. Following the sale, the chief executive officer directly owned 321,256 shares of the company’s stock, valued at $51,535,887.52. This represents a 12.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen F. East sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $139.70, for a total transaction of $139,700.00. Following the completion of the sale, the director directly owned 13,442 shares of the company’s stock, valued at approximately $1,877,847.40. The trade was a 6.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.37% of the company’s stock.

Institutional Trading of Toll Brothers

A number of large investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC increased its stake in Toll Brothers by 65.5% in the 1st quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company’s stock worth $26,000 after buying an additional 74 shares during the period. Wiser Advisor Group LLC bought a new position in Toll Brothers in the 3rd quarter worth about $27,000. Pinnacle Holdings LLC purchased a new position in shares of Toll Brothers during the fourth quarter worth approximately $27,000. Abich Financial Wealth Management LLC purchased a new position in shares of Toll Brothers during the third quarter worth approximately $28,000. Finally, Ramirez Asset Management Inc. bought a new stake in shares of Toll Brothers during the third quarter valued at approximately $28,000. 91.76% of the stock is owned by hedge funds and other institutional investors.

About Toll Brothers

Toll Brothers, Inc is a publicly traded homebuilding company that focuses on designing and constructing luxury residential properties. The company’s core business encompasses a broad range of housing products, including custom single-family homes, upscale condominium communities and rental apartment ventures. Toll Brothers emphasizes high-end finishes and architectural craftsmanship, positioning itself in the premium segment of the U.S. housing market.

In addition to traditional homebuilding, Toll Brothers operates specialized divisions to address evolving consumer preferences.