State of Wyoming Makes New Investment in Toro Company (The) $TTC

Key Points

• The State of Wyoming acquired 3,184 shares of Toro Company (NYSE:TTC), valued at approximately $232,000, during the first quarter.
• Toro's stock has seen mixed reviews from analysts, with a consensus rating of "Moderate Buy" and an average price target of $89.60.
• Insider activity included significant share sales by VP Kurt D. Svendsen and Director Gary Lee Ellis, resulting in decreases of 34.00% and 12.88% in their respective holdings.

State of Wyoming bought a new stake in Toro Company (The) (NYSE:TTC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,184 shares of the company's stock, valued at approximately $232,000.

A number of other institutional investors also recently modified their holdings of TTC. Captrust Financial Advisors raised its holdings in shares of Toro by 33.8% in the fourth quarter. Captrust Financial Advisors now owns 52,934 shares of the company's stock worth $4,240,000 after buying an additional 13,373 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Toro by 7.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 535,787 shares of the company's stock valued at $38,882,000 after purchasing an additional 37,405 shares during the last quarter. M&T Bank Corp grew its position in shares of Toro by 11.2% during the 1st quarter. M&T Bank Corp now owns 10,915 shares of the company's stock valued at $794,000 after buying an additional 1,098 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Toro by 87.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company's stock valued at $3,306,000 after purchasing an additional 21,214 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Toro by 1.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock worth $1,033,000 after buying an additional 173 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gary Lee Ellis sold 5,038 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the sale, the director directly owned 34,062 shares of the company's stock, valued at $2,411,930.22. This trade represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kurt D. Svendsen sold 6,000 shares of Toro stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $70.99, for a total transaction of $425,940.00. Following the transaction, the vice president owned 11,646 shares of the company's stock, valued at $826,749.54. The trade was a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

TTC has been the topic of a number of research reports. Raymond James Financial cut their price objective on shares of Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, June 6th. Longbow Research raised Toro from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Monday, August 25th. Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Northland Securities restated a "market perform" rating and issued a $80.00 target price (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. Finally, DA Davidson raised their price target on Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a research report on Friday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $90.60.

Toro Stock Performance

Shares of TTC traded down $0.79 during mid-day trading on Monday, reaching $80.85. The company's stock had a trading volume of 371,199 shares, compared to its average volume of 961,778. The stock has a market cap of $7.91 billion, a P/E ratio of 24.54 and a beta of 0.80. The business has a 50-day simple moving average of $76.10 and a two-hundred day simple moving average of $73.54. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. Toro Company has a 1-year low of $62.34 and a 1-year high of $89.50.

Toro (NYSE:TTC - Get Free Report) last announced its earnings results on Thursday, September 4th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.22 by $0.02. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. Toro had a return on equity of 28.98% and a net margin of 7.37%.The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 EPS. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. As a group, equities research analysts anticipate that Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Profile

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.