Canada Pension Plan Investment Board Purchases 24,900 Shares of 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 raised its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 1,383.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 26,700 shares of the company's stock after buying an additional 24,900 shares during the period. Canada Pension Plan Investment Board's holdings in Toro were worth $1,942,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in Toro by 1.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock worth $1,033,000 after buying an additional 173 shares during the last quarter. True Wealth Design LLC raised its position in Toro by 127.2% in the fourth 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. raised its position 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 purchasing an additional 220 shares during the period. Cornerstone Wealth Management LLC grew its stake in shares of Toro by 9.1% in the first quarter. Cornerstone Wealth Management LLC now owns 2,866 shares of the company's stock worth $209,000 after acquiring an additional 240 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Toro by 94.1% in the first quarter. Brooklyn Investment Group now owns 495 shares of the company's stock worth $36,000 after acquiring an additional 240 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Stock Performance

Toro stock traded down $0.19 during midday trading on Wednesday, reaching $78.58. 709,021 shares of the stock traded hands, compared to its average volume of 893,851. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $76.49 and a two-hundred day moving average price of $73.62. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 23.81 and a beta of 0.80. Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $89.50.

Toro (NYSE:TTC - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The company reported $1.24 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $1.18 EPS. Toro'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. On average, equities research analysts forecast that Toro Company will post 4.41 earnings per share for the current year.

Analysts Set New Price Targets

TTC has been the subject of a number of analyst reports. Robert W. Baird boosted their target price on shares of Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. DA Davidson increased their price target on shares of Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Monday, August 25th. Finally, Raymond James Financial decreased their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, June 6th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.60.

Insider Buying and Selling at Toro

In related news, VP Kurt D. Svendsen sold 6,000 shares of the business's 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 directly owned 11,646 shares of the company's stock, valued at approximately $826,749.54. The trade was a 34.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.39% of the stock is currently 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.