Prudential PLC Acquires Shares of 38,568 Toro Company (The) $TTC

Key Points

• Prudential PLC has acquired 38,568 shares of Toro Company (NYSE:TTC), valued at approximately $2.8 million, as reported in their recent 13F filing with the SEC.
• Many institutional investors have significantly increased their stakes in Toro, with Kayne Anderson Rudnick Investment Management increasing their position by 45.5% in the fourth quarter.
• Toro's quarterly earnings showed an EPS of $1.42, slightly beating estimates, but revenue declined 2.3% year-over-year, totaling $1.32 billion.

Prudential PLC acquired a new position in Toro Company (The) (NYSE:TTC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 38,568 shares of the company's stock, valued at approximately $2,806,000.

Several other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC boosted its position in shares of Toro by 127.2% during the fourth quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after buying an additional 206 shares during the last quarter. Financial Harvest LLC bought a new stake in shares of Toro in the first quarter worth approximately $42,000. Allworth Financial LP lifted its position in Toro by 91.6% during the first quarter. Allworth Financial LP now owns 663 shares of the company's stock valued at $46,000 after purchasing an additional 317 shares during the period. Versant Capital Management Inc grew its position in Toro by 81.2% in the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock worth $63,000 after purchasing an additional 389 shares during the period. Finally, iA Global Asset Management Inc. purchased a new position in shares of Toro in the 1st quarter worth $82,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on TTC. Northland Securities reiterated a "market perform" rating and set a $80.00 price objective (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. Raymond James Financial lowered their price target on shares of Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Robert W. Baird increased their price target on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Finally, DA Davidson set a $76.00 target price on Toro and gave the stock a "neutral" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Toro currently has an average rating of "Hold" and a consensus price target of $82.75.

Toro Trading Up 1.6%

Shares of TTC stock traded up $1.2420 during trading hours on Tuesday, reaching $77.9420. 172,541 shares of the stock were exchanged, compared to its average volume of 960,050. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 19.98 and a beta of 0.80. Toro Company has a 12-month low of $62.34 and a 12-month high of $93.00. The company's 50-day moving average price is $73.19 and its 200-day moving average price is $73.59. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%.The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 earnings per share. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. As a group, equities analysts anticipate that Toro Company will post 4.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Kurt D. Svendsen sold 6,000 shares of Toro stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the sale, the vice president directly owned 11,646 shares in the company, valued at $826,749.54. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary Lee Ellis sold 5,038 shares of the company'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 transaction of $356,740.78. Following the completion of the sale, the director directly owned 34,062 shares of the company's stock, valued at $2,411,930.22. The trade was a 12.88% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

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.