Aigen Investment Management LP Has $843,000 Holdings in Toro Company (The) (NYSE:TTC)

Key Points

• Aigen Investment Management LP increased its stake in Toro Company by 91.3% during the first quarter, holding 11,586 shares valued at $843,000.
• Research analysts have lowered their ratings and price targets for Toro, with a consensus target price of $82.75 and a majority rating the stock as a "Hold."
• Toro reported earnings of $1.42 EPS, surpassing estimates, but experienced a 2.3% decline in revenue year-over-year.

Aigen Investment Management LP increased its position in Toro Company (The) (NYSE:TTC - Free Report) by 91.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,586 shares of the company's stock after purchasing an additional 5,528 shares during the period. Aigen Investment Management LP's holdings in Toro were worth $843,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in Toro by 15.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 302,702 shares of the company's stock valued at $24,246,000 after buying an additional 41,615 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Toro by 9.2% in the fourth quarter. Cerity Partners LLC now owns 40,307 shares of the company's stock valued at $3,439,000 after acquiring an additional 3,380 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Toro in the fourth quarter valued at about $36,561,000. Capital Fund Management S.A. purchased a new stake in shares of Toro during the fourth quarter worth about $1,507,000. Finally, Covestor Ltd grew its stake in shares of Toro by 60.5% during the fourth quarter. Covestor Ltd now owns 1,181 shares of the company's stock worth $95,000 after acquiring an additional 445 shares during the last quarter. Institutional investors own 87.95% of the company's stock.

Toro Stock Down 1.4%

Shares of NYSE TTC traded down $1.12 on Friday, hitting $76.91. The company had a trading volume of 862,022 shares, compared to its average volume of 646,846. Toro Company has a 12-month low of $62.34 and a 12-month high of $93.00. The business has a 50 day moving average of $73.08 and a two-hundred day moving average of $73.78. The company has a quick ratio of 0.79, a current ratio of 1.81 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $7.59 billion, a P/E ratio of 19.72 and a beta of 0.80.

Toro (NYSE:TTC - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.02. Toro had a return on equity of 27.99% and a net margin of 8.77%. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. Toro's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, June 17th. Toro's dividend payout ratio (DPR) is 38.97%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Raymond James Financial decreased their price target on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, June 6th. Northland Securities reissued a "market perform" rating and issued a $80.00 price objective (down from $100.00) on shares of Toro in a research note on Friday, June 6th. Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. DA Davidson set a $76.00 price target on Toro and gave the stock a "neutral" rating in a report on Monday, June 9th. Finally, Robert W. Baird increased their target price on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $82.75.

Insider Activity

In other 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 value of $425,940.00. Following the sale, the vice president directly owned 11,646 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of Toro stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total value of $356,740.78. Following the sale, the director directly owned 34,062 shares in the company, valued at $2,411,930.22. The trade was a 12.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by company 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.