Pallas Capital Advisors LLC Invests $1.10 Million in The Toro Company (NYSE:TTC)

Pallas Capital Advisors LLC acquired a new position in shares of The Toro Company (NYSE:TTC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,064 shares of the company's stock, valued at approximately $1,096,000.

Several other large investors also recently added to or reduced their stakes in TTC. True Wealth Design LLC boosted its position in shares of Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after acquiring an additional 206 shares during the last quarter. Asset Planning Inc purchased a new stake in shares of Toro in the 4th quarter valued at approximately $31,000. CIBC Private Wealth Group LLC grew its position in Toro by 30.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after acquiring an additional 127 shares during the period. Venturi Wealth Management LLC raised its position in Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock valued at $44,000 after purchasing an additional 362 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Toro by 81.2% in the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock valued at $63,000 after purchasing an additional 389 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Stock Down 3.6%

Shares of TTC traded down $2.48 during midday trading on Friday, reaching $67.27. The stock had a trading volume of 1,006,896 shares, compared to its average volume of 935,481. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 16.78 and a beta of 0.83. The company's fifty day simple moving average is $71.28 and its two-hundred day simple moving average is $76.84. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro (NYSE:TTC - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. Toro had a return on equity of 27.25% and a net margin of 9.14%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $1.40 EPS. Toro's revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts expect that The Toro Company will post 4.41 earnings per share for the current year.

Toro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, June 17th. Toro's dividend payout ratio (DPR) is 38.97%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TTC shares. Robert W. Baird increased their target price on shares of Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. DA Davidson set a $76.00 price target on Toro and gave the stock a "neutral" rating in a research report on Monday, June 9th. Wall Street Zen cut Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Raymond James dropped their price objective on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, June 6th. Finally, Northland Securities reissued a "market perform" rating and issued a $80.00 price target (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $82.75.

Insider Activity at Toro

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the sale, the director now owns 34,062 shares in the company, valued at approximately $2,411,930.22. The trade was a 12.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.39% of the company's stock.

About Toro

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.