Korea Investment CORP Sells 85,572 Shares of Toro Company (The) $TTC

Key Points

• Korea Investment CORP has cut its stake in Toro Company by 94.8%, ending the first quarter with only 4,687 shares valued at $341,000.
• Multiple hedge funds have altered their positions in Toro, with Captrust Financial Advisors increasing its holdings by 33.8%, while several others also reported varying adjustments.
• Toro Company reported earnings per share (EPS) of $1.42 for the last quarter, surpassing analysts' expectations of $1.40, but experienced a 2.3% decline in revenue compared to the previous year.

Korea Investment CORP decreased its position in shares of Toro Company (The) (NYSE:TTC - Free Report) by 94.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,687 shares of the company's stock after selling 85,572 shares during the period. Korea Investment CORP's holdings in Toro were worth $341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TTC. Canada Pension Plan Investment Board grew its holdings in shares of Toro by 125.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,800 shares of the company's stock worth $144,000 after acquiring an additional 1,000 shares during the period. First Trust Advisors LP grew its holdings in shares of Toro by 264.5% during the 4th quarter. First Trust Advisors LP now owns 211,849 shares of the company's stock worth $16,969,000 after acquiring an additional 153,730 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Toro by 17.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company's stock worth $88,152,000 after acquiring an additional 164,069 shares during the period. MML Investors Services LLC grew its holdings in shares of Toro by 5.5% during the 4th quarter. MML Investors Services LLC now owns 24,196 shares of the company's stock worth $1,938,000 after acquiring an additional 1,261 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Toro by 136.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,116 shares of the company's stock worth $490,000 after acquiring an additional 3,529 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Insider Buying and Selling at Toro

In other news, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction on Wednesday, June 11th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction on 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 in the company, valued at $826,749.54. The trade was a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. DA Davidson upgraded Toro from a "neutral" rating to a "buy" rating and upped their price target for the stock from $76.00 to $93.00 in a research note on Monday. Longbow Research upgraded Toro from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Monday. Raymond James Financial cut their price target on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. Finally, Northland Securities restated a "market perform" rating and issued a $80.00 price target (down previously from $100.00) on shares of Toro in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Toro currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.60.

Toro Stock Down 1.2%

TTC stock traded down $0.98 during midday trading on Friday, hitting $81.02. The company's stock had a trading volume of 1,130,950 shares, compared to its average volume of 712,128. The company has a market cap of $8.00 billion, a PE ratio of 20.77 and a beta of 0.80. Toro Company has a 12 month low of $62.34 and a 12 month high of $93.00. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73. The firm's 50-day moving average is $75.05 and its 200-day moving average is $73.64.

Toro (NYSE:TTC - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.02. The business 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 firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 EPS. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. On average, equities research analysts forecast that Toro Company will post 4.41 earnings per share for the current fiscal year.

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.