Toro Company (The) (NYSE:TTC) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,859 shares of the company's stock after purchasing an additional 24,157 shares during the period. Envestnet Asset Management Inc. owned 0.33% of Toro worth $23,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTC. HighTower Advisors LLC lifted its holdings in Toro by 8.8% during the fourth quarter. HighTower Advisors LLC now owns 9,191 shares of the company's stock valued at $736,000 after purchasing an additional 744 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Toro by 20.7% during the fourth quarter. Natixis Advisors LLC now owns 24,840 shares of the company's stock valued at $1,990,000 after purchasing an additional 4,252 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Toro by 17.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,878 shares of the company's stock valued at $871,000 after purchasing an additional 1,654 shares in the last quarter. Corient Private Wealth LLC purchased a new position in Toro during the fourth quarter valued at $271,000. Finally, Harbour Investments Inc. lifted its holdings in Toro by 75.5% during the fourth quarter. Harbour Investments Inc. now owns 2,457 shares of the company's stock valued at $197,000 after purchasing an additional 1,057 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Stock Up 0.4%

Shares of Toro stock traded up $0.29 during trading hours on Wednesday, hitting $72.93. The company had a trading volume of 587,070 shares, compared to its average volume of 922,804. The company's 50-day moving average is $73.12 and its two-hundred day moving average is $74.91. Toro Company has a twelve month low of $62.34 and a twelve month high of $100.93. 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 company has a market cap of $7.20 billion, a P/E ratio of 18.70 and a beta of 0.81.

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

Toro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th were issued a $0.38 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.08%. Toro's dividend payout ratio is presently 38.97%.

Insider Activity

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the firm's stock in a transaction dated 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 trade represents a 12.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

TTC has been the topic of several research reports. Raymond James Financial decreased their price target 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. Wall Street Zen cut shares of Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Northland Securities reiterated a "market perform" rating and set a $80.00 price target (down previously from $100.00) on shares of Toro in a report on Friday, June 6th. DA Davidson set a $76.00 price target on shares of Toro and gave the stock a "neutral" rating in a report on Monday, June 9th. Finally, Robert W. Baird boosted 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. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Toro currently has a consensus rating of "Hold" and a consensus price target of $82.75.

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.