Kayne Anderson Rudnick Investment Management LLC Buys 1,156,314 Shares of Toro Company (The) $TTC

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Toro Company by 16.4%, now owning 8.20% of the company valued at approximately $595.6 million.
• Insider trading activities were noted, with Director Gary Lee Ellis selling 5,038 shares, representing a 12.88% decrease in his holdings.
• The stock received mixed analyst ratings, with a consensus rating of "Hold" and a reduced price target of $82.75.

Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 16.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,187,609 shares of the company's stock after purchasing an additional 1,156,314 shares during the period. Toro accounts for about 1.5% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its 17th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 8.20% of Toro worth $595,649,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. True Wealth Design LLC boosted its stake in shares of Toro by 127.2% in the fourth quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after acquiring an additional 206 shares during the period. Brooklyn Investment Group boosted its stake in shares of Toro by 94.1% in the first quarter. Brooklyn Investment Group now owns 495 shares of the company's stock worth $36,000 after acquiring an additional 240 shares during the period. Financial Harvest LLC bought a new position in shares of Toro in the first quarter worth about $42,000. Allworth Financial LP boosted its stake in shares of Toro by 91.6% in the first quarter. Allworth Financial LP now owns 663 shares of the company's stock worth $46,000 after acquiring an additional 317 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Toro by 81.2% in the first quarter. Versant Capital Management Inc now owns 868 shares of the company's stock worth $63,000 after acquiring an additional 389 shares during the period. Institutional investors own 87.95% of the company's stock.

Toro Trading Down 0.6%

Shares of TTC traded down $0.52 during mid-day trading on Thursday, reaching $82.03. 926,068 shares of the company's stock traded hands, compared to its average volume of 951,795. The stock has a market cap of $8.09 billion, a P/E ratio of 21.03 and a beta of 0.80. The stock's 50-day moving average is $74.57 and its two-hundred day moving average is $73.62. Toro Company has a 12 month low of $62.34 and a 12 month high of $93.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TTC shares. Robert W. Baird upped their price objective on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Longbow Research upgraded Toro from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Monday. DA Davidson upgraded Toro from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $76.00 to $93.00 in a research report on Monday. Northland Securities reiterated a "market perform" rating and issued a $80.00 target price (down from $100.00) on shares of Toro in a research report on Friday, June 6th. 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 research report on Friday, June 6th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Toro presently has an average rating of "Moderate Buy" and a consensus target price of $89.60.

Insider Activity at Toro

In related news, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction that occurred 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 transaction, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the vice president directly owned 11,646 shares in the company, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

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.