Acadian Asset Management LLC Sells 118,706 Shares of Toro Company (The) $TTC

Key Points

• Acadian Asset Management LLC significantly reduced its stake in Toro Company by 47.6% in the first quarter, owning 130,500 shares valued at approximately $9.49 million post-sale.
• Despite the sell-off by Acadian, several other institutional investors such as IFM Investors and Focus Partners Wealth increased their holdings in Toro during the same period.
• Toro Company reported earnings of $1.24 per share for the last quarter, exceeding estimates, but experienced a 2.2% year-over-year decline in revenue.

Acadian Asset Management LLC reduced its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 47.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,500 shares of the company's stock after selling 118,706 shares during the quarter. Acadian Asset Management LLC owned 0.13% of Toro worth $9,492,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in Toro by 127.2% during the fourth quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after acquiring an additional 206 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Toro by 94.1% during the first quarter. Brooklyn Investment Group now owns 495 shares of the company's stock worth $36,000 after purchasing an additional 240 shares during the last quarter. Financial Harvest LLC bought a new stake in shares of Toro during the first quarter worth $42,000. Allworth Financial LP grew its holdings in shares of Toro by 91.6% during the first quarter. Allworth Financial LP now owns 663 shares of the company's stock worth $46,000 after purchasing an additional 317 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Toro by 81.2% during the first 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 last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Toro

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was 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 in the company, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.39% of the company's stock.

Toro Trading Up 0.3%

TTC traded up $0.25 during midday trading on Monday, reaching $79.53. 549,883 shares of the company were exchanged, compared to its average volume of 846,344. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.79 and a current ratio of 1.88. Toro Company has a one year low of $62.34 and a one year high of $89.50. The stock has a market capitalization of $7.78 billion, a P/E ratio of 24.10 and a beta of 0.80. The stock's 50-day simple moving average is $76.81 and its 200 day simple moving average is $73.51.

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

Analyst Ratings Changes

Several brokerages have recently commented on TTC. Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Longbow Research upgraded Toro from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Monday, August 25th. Robert W. Baird increased their target price on Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a report on Friday, September 5th. Raymond James Financial decreased their target price on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Finally, Northland Securities increased their target price on Toro from $80.00 to $90.00 and gave the stock a "market perform" rating in a report on Tuesday, September 9th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Toro has an average rating of "Moderate Buy" and a consensus price target of $92.60.

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.