Gabelli Funds LLC Increases Stake in Toro Company (The) $TTC

Key Points

• Gabelli Funds LLC increased its stake in Toro Company to 57,500 shares, representing a total value of $4.18 million, after acquiring an additional 3,500 shares during the first quarter.
• The Toro Company recently reported earnings of $1.42 per share, surpassing analyst expectations by $0.02, although its revenue of $1.32 billion fell short of estimates.
• A significant number of institutional investors have increased their stakes in Toro, with 87.95% of the stock now owned by such investors.

Gabelli Funds LLC increased its position in Toro Company (The) (NYSE:TTC - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,500 shares of the company's stock after acquiring an additional 3,500 shares during the quarter. Gabelli Funds LLC owned about 0.06% of Toro worth $4,183,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its holdings in 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 acquiring an additional 206 shares in the last quarter. Brooklyn Investment Group increased its holdings in Toro by 94.1% in the 1st 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. Financial Harvest LLC purchased a new stake in Toro in the 1st quarter worth approximately $42,000. Allworth Financial LP grew its holdings 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 buying an additional 317 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings 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 buying an additional 389 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on TTC. Northland Securities reaffirmed a "market perform" rating and set a $80.00 price objective (down from $100.00) on shares of Toro in a report on Friday, June 6th. DA Davidson upgraded Toro from a "neutral" rating to a "buy" rating and increased their target price for the company from $76.00 to $93.00 in a research report on Monday, August 25th. Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Robert W. Baird increased their target price on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Finally, Raymond James Financial lowered their target price on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.60.

Toro Trading Down 0.9%

TTC traded down $0.75 during trading on Wednesday, reaching $80.70. The company had a trading volume of 158,578 shares, compared to its average volume of 948,432. The stock has a market cap of $7.96 billion, a P/E ratio of 20.72 and a beta of 0.80. The business has a 50 day simple moving average of $75.48 and a 200-day simple moving average of $73.61. Toro Company has a 52 week low of $62.34 and a 52 week high of $92.81. The company has a quick ratio of 0.79, a current ratio of 1.81 and a debt-to-equity ratio of 0.73.

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

Insiders Place Their Bets

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the sale, the director owned 34,062 shares in the company, valued at $2,411,930.22. This trade represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the sale, the vice president owned 11,646 shares in the company, valued at approximately $826,749.54. The trade was 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.

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.