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

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Toro by 7.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 535,787 shares of the company's stock worth $38,882,000 after acquiring an additional 37,405 shares during the period. M&T Bank Corp grew its position in Toro by 11.2% in the 1st quarter. M&T Bank Corp now owns 10,915 shares of the company's stock worth $794,000 after purchasing an additional 1,098 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Toro by 87.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company's stock worth $3,306,000 after purchasing an additional 21,214 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Toro by 1.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock worth $1,033,000 after purchasing an additional 173 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Toro by 65.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 12,674 shares of the company's stock worth $922,000 after purchasing an additional 5,012 shares during the last quarter. Institutional investors own 87.95% of the company's stock.

Toro Price Performance

Shares of NYSE TTC traded up $0.93 during trading on Thursday, reaching $80.06. The company had a trading volume of 139,213 shares, compared to its average volume of 951,958. Toro Company has a 52 week low of $62.34 and a 52 week high of $89.50. The stock has a market cap of $7.83 billion, a PE ratio of 24.26 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.79 and a current ratio of 1.88. The business's 50 day moving average price is $76.99 and its 200-day moving average price is $73.59.

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

Analyst Ratings Changes

TTC has been the topic of several research analyst reports. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Robert W. Baird raised their price target on shares of Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. DA Davidson raised their price target on shares of Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Monday, August 25th. Finally, Northland Securities raised their price target on shares of Toro from $80.00 to $90.00 and gave the stock a "market perform" rating in a research 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 company. According to data from MarketBeat, Toro presently has a consensus rating of "Moderate Buy" and an average target price of $92.60.

Insider Buying and Selling at Toro

In related news, VP Kurt D. Svendsen sold 6,000 shares of the business's 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 completion of the sale, the vice president directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by company insiders.

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.