Advisors Asset Management Inc. Cuts Stake in Toro Company (The) $TTC

Key Points

• Advisors Asset Management Inc. significantly reduced its holdings in Toro Company by 69.1% during the first quarter, now owning 2,475 shares valued at approximately $180,000.
• Analysts have mixed opinions on Toro's stock, with recent price targets ranging from $86.00 to $100.00, reflecting a consensus rating of "Moderate Buy."
• Toro reported $1.24 earnings per share for the last quarter, surpassing analyst expectations, although its revenue showed a 2.2% decline year-over-year.

Advisors Asset Management Inc. trimmed its position in Toro Company (The) (NYSE:TTC - Free Report) by 69.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,475 shares of the company's stock after selling 5,532 shares during the quarter. Advisors Asset Management Inc.'s holdings in Toro were worth $180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised 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 period. M&T Bank Corp lifted its holdings 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 worth $794,000 after acquiring an additional 1,098 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Toro by 87.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company's stock worth $3,306,000 after acquiring an additional 21,214 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Toro by 1.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock valued at $1,033,000 after purchasing an additional 173 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake 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 valued at $922,000 after purchasing an additional 5,012 shares during the last quarter. 87.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 value of $425,940.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.39% of the company's stock.

Toro Stock Up 0.3%

Shares of NYSE TTC traded up $0.25 during mid-day trading on Monday, reaching $79.53. 549,883 shares of the company's stock traded hands, compared to its average volume of 846,344. The stock has a market cap of $7.78 billion, a P/E ratio of 24.10 and a beta of 0.80. The business has a 50-day simple moving average of $76.81 and a 200 day simple moving average of $73.51. Toro Company has a 1-year low of $62.34 and a 1-year high of $89.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.88 and a quick ratio of 0.79.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TTC shares. Raymond James Financial dropped their price target on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. DA Davidson lifted their target price on shares of Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. 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 report on Friday, September 5th. Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. 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 report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $92.60.

Toro Company 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.