Gallacher Capital Management LLC Takes Position in Toro Company (The) (NYSE:TTC)

Gallacher Capital Management LLC bought a new position in shares of Toro Company (The) (NYSE:TTC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,204 shares of the company's stock, valued at approximately $597,000.

A number of other hedge funds also recently modified their holdings of TTC. HighTower Advisors LLC boosted its stake in Toro by 8.8% in the 4th quarter. HighTower Advisors LLC now owns 9,191 shares of the company's stock valued at $736,000 after purchasing an additional 744 shares during the period. Natixis Advisors LLC increased its stake in shares of Toro by 20.7% in the fourth quarter. Natixis Advisors LLC now owns 24,840 shares of the company's stock valued at $1,990,000 after buying an additional 4,252 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Toro by 17.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,878 shares of the company's stock worth $871,000 after purchasing an additional 1,654 shares during the period. Corient Private Wealth LLC bought a new position in Toro in the fourth quarter worth approximately $271,000. Finally, Harbour Investments Inc. lifted its holdings in shares of Toro by 75.5% in 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. Institutional investors and hedge funds own 87.95% of the company's stock.

Toro Stock Performance

NYSE TTC traded up $1.79 during trading on Tuesday, reaching $75.06. The company's stock had a trading volume of 664,781 shares, compared to its average volume of 915,135. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 19.25 and a beta of 0.81. Toro Company has a twelve month low of $62.34 and a twelve month high of $98.61. The business's fifty day moving average price is $73.21 and its 200-day moving average price is $74.69.

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

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Tuesday, June 17th. Toro's dividend payout ratio is currently 38.97%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TTC shares. Robert W. Baird boosted their target price on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Northland Securities reiterated a "market perform" rating and set a $80.00 target price (down previously from $100.00) on shares of Toro in a report on Friday, June 6th. Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. DA Davidson set a $76.00 target price on Toro and gave the company a "neutral" rating in a research note on Monday, June 9th. Finally, Raymond James Financial decreased their target price on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $82.75.

Insider Buying and Selling

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction 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 transaction, the director directly owned 34,062 shares of the company's stock, valued at $2,411,930.22. This represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kurt D. Svendsen sold 6,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction of $425,940.00. Following the sale, the vice president directly owned 11,646 shares of the company's stock, valued at approximately $826,749.54. This represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

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.