Alberta Investment Management Corp Purchases New Stake in Toro Company (The) (NYSE:TTC)

Key Points

• Alberta Investment Management Corp acquired a new stake in Toro Company, purchasing 49,600 shares valued at approximately $3.6 million during the 1st quarter.
• Several hedge funds have also increased their holdings in Toro, with True Wealth Design acquiring a 127.2% increase in their position during the 4th quarter.
• Analysts have varied opinions on Toro's stock, with a consensus rating of "Hold" and an average price target of $82.75.

Alberta Investment Management Corp purchased a new stake in Toro Company (The) (NYSE:TTC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 49,600 shares of the company's stock, valued at approximately $3,608,000.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC grew its position in Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after purchasing an additional 206 shares during the period. CIBC Private Wealth Group LLC grew its position in Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock valued at $43,000 after purchasing an additional 127 shares during the period. Financial Harvest LLC acquired a new stake in Toro in the 1st quarter valued at $42,000. Allworth Financial LP lifted its stake in Toro by 91.6% during the 1st quarter. Allworth Financial LP now owns 663 shares of the company's stock valued at $46,000 after acquiring an additional 317 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Toro by 81.2% during the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock valued at $63,000 after acquiring an additional 389 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Insider Transactions at Toro

In related news, VP Kurt D. Svendsen sold 6,000 shares of the business'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 in the company, valued at approximately $826,749.54. The trade was a 34.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the sale, the director owned 34,062 shares in the company, valued at $2,411,930.22. This represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TTC shares. DA Davidson set a $76.00 price objective on Toro and gave the company a "neutral" rating in a research note on Monday, June 9th. Robert W. Baird raised their price objective on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Raymond James Financial dropped their price objective on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Northland Securities restated a "market perform" rating and set a $80.00 price objective (down from $100.00) on shares of Toro in a research note on Friday, June 6th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Toro has an average rating of "Hold" and a consensus price target of $82.75.

Toro Trading Down 1.8%

NYSE TTC opened at $72.90 on Friday. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 18.69 and a beta of 0.80. Toro Company has a one year low of $62.34 and a one year high of $93.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. The business's fifty day moving average is $72.96 and its 200-day moving average is $74.39.

Toro (NYSE:TTC - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 EPS. Equities research analysts predict that Toro Company will post 4.41 EPS for the current year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 17th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, June 17th. Toro's payout ratio is currently 38.97%.

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.

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