Advisors Asset Management Inc. Decreases 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. cut its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 69.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Toro by 7.5% during the first 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 in the last quarter. M&T Bank Corp grew its position in Toro by 11.2% during the first quarter. M&T Bank Corp now owns 10,915 shares of the company's stock worth $794,000 after buying an additional 1,098 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Toro by 87.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company's stock worth $3,306,000 after buying an additional 21,214 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Toro by 1.2% during the first 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 period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Toro by 65.4% during the first 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 period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on TTC shares. Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Monday, August 25th. Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Northland Securities upped their price target on shares of Toro from $80.00 to $90.00 and gave the company a "market perform" rating in a research note on Tuesday, September 9th. DA Davidson increased their target price 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. Finally, Robert W. Baird increased 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. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Toro has an average rating of "Moderate Buy" and an average target price of $92.60.

Toro Price Performance

Shares of NYSE:TTC traded up $0.91 during trading on Thursday, reaching $80.04. The company had a trading volume of 543,693 shares, compared to its average volume of 870,369. The company has a fifty day moving average of $77.07 and a two-hundred day moving average of $73.61. The stock has a market capitalization of $7.83 billion, a P/E ratio of 24.25 and a beta of 0.80. Toro Company has a 12 month low of $62.34 and a 12 month high of $89.50. 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 (NYSE:TTC - Get Free Report) last announced its quarterly 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 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 analyst estimates of $1.16 billion. During the same quarter last year, the firm earned $1.18 EPS. 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. Equities research analysts forecast that Toro Company will post 4.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.39% of the company's stock.

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.