Invesco Ltd. Sells 411,370 Shares of Toro Company (The) $TTC

Key Points

• Invesco Ltd. has reduced its stake in Toro Company by 26.4%, selling 411,370 shares and now holds approximately 1.15% of the company, valued at around $83.36 million.
• Toro Company reported a quarterly EPS of $1.42, surpassing analyst expectations, although its revenue of $1.32 billion fell short of estimates and was down 2.3% year-over-year.
• The company's dividend was recently set at $0.38 per share, yielding 2.0% annually, with a dividend payout ratio of 38.97%.

Invesco Ltd. lessened its position in Toro Company (The) (NYSE:TTC - Free Report) by 26.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,145,810 shares of the company's stock after selling 411,370 shares during the quarter. Invesco Ltd. owned about 1.15% of Toro worth $83,358,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TTC. True Wealth Design LLC increased its holdings in shares of Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after purchasing an additional 206 shares during the period. Financial Harvest LLC bought a new position in shares of Toro during the 1st quarter worth about $42,000. Allworth Financial LP boosted its position in shares of 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 acquiring an additional 317 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of 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 acquiring an additional 389 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Toro during the 1st quarter valued at about $82,000. Institutional investors own 87.95% of the company's stock.

Toro Stock Down 2.7%

Shares of NYSE TTC traded down $2.1350 during mid-day trading on Wednesday, reaching $75.8850. The company had a trading volume of 332,928 shares, compared to its average volume of 958,666. Toro Company has a twelve month low of $62.34 and a twelve month 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 stock has a market capitalization of $7.49 billion, a PE ratio of 19.46 and a beta of 0.80. The stock's 50 day moving average is $73.31 and its 200-day moving average is $73.62.

Toro (NYSE:TTC - Get Free Report) last posted its quarterly 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. The business had revenue of $1.32 billion for 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%. Toro's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 earnings per share. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. As a group, equities analysts anticipate that Toro Company will post 4.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Toro

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 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 completion of the sale, the vice president directly owned 11,646 shares in the company, 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.

Analysts Set New Price Targets

TTC has been the topic of a number of recent analyst reports. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Northland Securities restated a "market perform" rating and issued a $80.00 price target (down from $100.00) on shares of Toro in a research report on Friday, June 6th. Raymond James Financial reduced their price target 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. DA Davidson set a $76.00 target price on shares of Toro and gave the stock a "neutral" rating in a research report on Monday, June 9th. Finally, Robert W. Baird upped their target price on shares of Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $82.75.

Toro Company 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.