Canada Pension Plan Investment Board Grows Stock Holdings in Toro Company (The) $TTC

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in Toro Company by 1,383.3% in the first quarter, acquiring an additional 24,900 shares, bringing its total holdings to 26,700 shares valued at approximately $1.94 million.
• Toro's recent earnings report showed earnings per share of $1.24, exceeding analysts' expectations, but revenue declined 2.2% year-over-year.
• Institutional investors now own 87.95% of Toro's stock, reflecting heightened interest in the company's shares from various hedge funds and investment firms.

Canada Pension Plan Investment Board boosted its position in shares of Toro Company (The) (NYSE:TTC - Free Report) by 1,383.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,700 shares of the company's stock after buying an additional 24,900 shares during the quarter. Canada Pension Plan Investment Board's holdings in Toro were worth $1,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. increased its holdings in Toro by 1.2% during 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 period. True Wealth Design LLC increased its holdings in Toro by 127.2% during 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. Baird Financial Group Inc. boosted its holdings in Toro by 5.3% in the fourth quarter. Baird Financial Group Inc. now owns 4,396 shares of the company's stock valued at $352,000 after acquiring an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Toro by 9.1% in the first quarter. Cornerstone Wealth Management LLC now owns 2,866 shares of the company's stock valued at $209,000 after acquiring an additional 240 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in Toro by 94.1% in the first quarter. Brooklyn Investment Group now owns 495 shares of the company's stock valued at $36,000 after acquiring an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial cut their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. DA Davidson raised their price objective on shares of Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a report on Friday. Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Robert W. Baird raised their target price on Toro from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Longbow Research raised Toro from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Monday, August 25th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.60.

Toro Stock Up 1.3%

Shares of NYSE:TTC traded up $1.07 on Friday, hitting $81.68. 954,101 shares of the company traded hands, compared to its average volume of 877,418. Toro Company has a 52 week low of $62.34 and a 52 week high of $89.50. The stock has a 50 day simple moving average of $76.10 and a 200-day simple moving average of $73.54. 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 company has a market cap of $8.06 billion, a PE ratio of 24.75 and a beta of 0.80.

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, beating analysts' consensus estimates of $1.22 by $0.02. Toro had a return on equity of 28.55% and a net margin of 7.37%.The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted $1.18 earnings per share. The company's quarterly revenue was down 2.2% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. As a group, research analysts expect that Toro Company will post 4.41 earnings per share for the current year.

Insider Transactions at Toro

In other news, 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $70.99, for a total transaction of $425,940.00. Following the transaction, the vice president owned 11,646 shares in the company, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their position. The disclosure for this sale can be found here. Company 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.