Klein Pavlis & Peasley Financial Inc. Grows Holdings in Toro Company (The) (NYSE:TTC)

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its holdings in Toro Company by 128.3% in the first quarter, now owning 11,301 shares valued at approximately $820,000.
• Toro's quarterly earnings beat analyst expectations with $1.42 EPS, and the company reported revenue of $1.32 billion despite a year-over-year decline of 2.3%.
• The company's recent dividend of $0.38 per share represents an annualized yield of 2.1%, with a payout ratio of 38.97%.

Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of Toro Company (The) (NYSE:TTC - Free Report) by 128.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,301 shares of the company's stock after buying an additional 6,350 shares during the quarter. Klein Pavlis & Peasley Financial Inc.'s holdings in Toro were worth $820,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. True Wealth Design LLC lifted its stake in Toro by 127.2% during the fourth 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 last quarter. Financial Harvest LLC bought a new position in Toro during the first quarter worth $42,000. CIBC Private Wealth Group LLC lifted its stake in Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after purchasing an additional 127 shares during the last quarter. Allworth Financial LP lifted its stake in Toro by 91.6% during the first quarter. Allworth Financial LP now owns 663 shares of the company's stock worth $46,000 after purchasing an additional 317 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Toro by 81.2% during the first quarter. Versant Capital Management Inc now owns 868 shares of the company's stock worth $63,000 after purchasing an additional 389 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TTC shares. DA Davidson set a $76.00 price objective on Toro and gave the stock a "neutral" rating in a research note on Monday, June 9th. Raymond James Financial cut their target price on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. 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 note on Friday, June 6th. Finally, Robert W. Baird raised their target price on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $82.75.

Insiders Place Their Bets

In related news, VP Kurt D. Svendsen sold 6,000 shares of Toro stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction 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. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Lee Ellis sold 5,038 shares of Toro stock in a transaction dated 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 directly owned 34,062 shares in the company, valued at approximately $2,411,930.22. The trade was 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 currently owned by company insiders.

Toro Price Performance

Shares of TTC opened at $72.90 on Friday. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 18.69 and a beta of 0.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81. Toro Company has a one year low of $62.34 and a one year high of $93.00. The stock's fifty day moving average is $72.96 and its 200-day moving average is $74.44.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly 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 company had revenue of $1.32 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. Equities analysts anticipate that Toro Company will post 4.41 EPS for the current year.

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 17th. Toro's dividend payout ratio (DPR) is 38.97%.

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.

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