Ieq Capital LLC Buys 96,903 Shares of Toro Company (The) $TTC

Key Points

• Ieq Capital LLC increased its stake in Toro Company by 344.7%, acquiring an additional 96,903 shares during the first quarter, bringing its total to 125,013 shares valued at approximately $9.1 million.
• Toro Company reported earnings of $1.42 per share for the last quarter, surpassing estimates by $0.02, although revenue fell 2.3% year-over-year with total revenue of $1.32 billion.
• Institutional investors now hold 87.95% of Toro's stock, with notable changes including Dimensional Fund Advisors increasing their position by 17.5% and Tower Research Capital increasing by 136.4%.

Ieq Capital LLC boosted its holdings in Toro Company (The) (NYSE:TTC - Free Report) by 344.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,013 shares of the company's stock after acquiring an additional 96,903 shares during the quarter. Ieq Capital LLC owned 0.13% of Toro worth $9,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TTC. Dimensional Fund Advisors LP increased its holdings in shares of Toro by 17.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company's stock worth $88,152,000 after buying an additional 164,069 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Toro by 5.5% during the fourth quarter. MML Investors Services LLC now owns 24,196 shares of the company's stock worth $1,938,000 after purchasing an additional 1,261 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Toro by 136.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,116 shares of the company's stock worth $490,000 after purchasing an additional 3,529 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Toro by 69.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 5,550 shares of the company's stock worth $445,000 after purchasing an additional 2,279 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of Toro during the fourth quarter worth approximately $451,000. Institutional investors own 87.95% of the company's stock.

Toro Stock Performance

NYSE TTC opened at $82.75 on Thursday. Toro Company has a 52-week low of $62.34 and a 52-week high of $93.00. 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 50-day moving average of $74.57 and a 200-day moving average of $73.62. The stock has a market cap of $8.17 billion, a PE ratio of 21.22 and a beta of 0.80.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the company earned $1.40 EPS. The business's revenue was down 2.3% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. On average, sell-side analysts anticipate that Toro Company will post 4.41 EPS for the current year.

Insider Activity

In other Toro news, 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 value of $425,940.00. Following the transaction, the vice president directly owned 11,646 shares of the company's stock, valued at $826,749.54. This trade represents a 34.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Robert W. Baird increased their price objective on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Northland Securities restated a "market perform" rating and issued a $80.00 price objective (down from $100.00) on shares of Toro 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 target price on the stock in a report on Monday. Finally, 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 report on Friday, June 6th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $89.60.

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.

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