American Century Companies Inc. Buys 100,487 Shares of Toro Company (The) $TTC

Key Points

• American Century Companies Inc. significantly increased its investment in Toro Company, raising its stake by 324.2% in the first quarter, holding a total of 131,485 shares worth approximately $9.57 million.
• Toro Company reported a quarterly earnings per share of $1.42, exceeding estimates, but showed a 2.3% decline in revenue compared to the same period last year.
• Analysts have recently adjusted their ratings and price targets for Toro, with DA Davidson upgrading it to a "buy" rating and setting a target price of $93.00, while Northland Securities downgraded their target to $80.00.

American Century Companies Inc. raised its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 324.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,485 shares of the company's stock after buying an additional 100,487 shares during the period. American Century Companies Inc. owned approximately 0.13% of Toro worth $9,566,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TTC. True Wealth Design LLC grew its stake in shares of Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after purchasing an additional 206 shares during the last quarter. Financial Harvest LLC acquired a new position in shares of Toro in the first quarter worth about $42,000. Allworth Financial LP boosted its holdings in shares of Toro by 91.6% in the first quarter. Allworth Financial LP now owns 663 shares of the company's stock worth $46,000 after buying an additional 317 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Toro by 81.2% in the first quarter. Versant Capital Management Inc now owns 868 shares of the company's stock worth $63,000 after buying an additional 389 shares during the period. Finally, iA Global Asset Management Inc. acquired a new position in shares of Toro in the first quarter worth about $82,000. Institutional investors and hedge funds own 87.95% of the company's stock.

Insider Activity at Toro

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 transaction, the vice president owned 11,646 shares of the company's stock, valued at $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The transaction 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 transaction of $356,740.78. Following the completion of the transaction, the director directly owned 34,062 shares in the company, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on TTC shares. Northland Securities reiterated a "market perform" rating and issued a $80.00 target price (down from $100.00) on shares of Toro in a report on Friday, June 6th. Raymond James Financial decreased their price target on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, June 6th. Robert W. Baird raised their price target on shares of Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Monday. Finally, Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.60.

Toro Stock Down 1.2%

TTC traded down $0.98 during midday trading on Friday, hitting $81.02. 1,130,950 shares of the company's stock traded hands, compared to its average volume of 712,128. The company has a market cap of $8.00 billion, a PE ratio of 20.77 and a beta of 0.80. The stock's fifty day simple moving average is $75.05 and its 200-day simple moving average is $73.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. Toro Company has a one year low of $62.34 and a one year high of $93.00.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Toro had a net margin of 8.77% and a return on equity of 27.99%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 earnings per share. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. As a group, equities analysts anticipate that Toro Company will post 4.41 earnings per share for the current fiscal year.

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.