Lecap Asset Management Ltd. Invests $2.20 Million in Toro Company (The) (NYSE:TTC)

Lecap Asset Management Ltd. purchased a new position in Toro Company (The) (NYSE:TTC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 30,186 shares of the company's stock, valued at approximately $2,196,000.

Other hedge funds have also recently bought and sold shares of the company. AssuredPartners Investment Advisors LLC grew its holdings in Toro by 9.9% in the first quarter. AssuredPartners Investment Advisors LLC now owns 5,238 shares of the company's stock valued at $381,000 after purchasing an additional 474 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Toro by 1.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock worth $1,033,000 after buying an additional 173 shares in the last quarter. Boston Trust Walden Corp grew its stake in Toro by 133.3% in the 1st quarter. Boston Trust Walden Corp now owns 779,419 shares of the company's stock valued at $56,703,000 after acquiring an additional 445,287 shares during the last quarter. Mayfair Advisory Group LLC acquired a new stake in Toro in the 1st quarter valued at about $217,000. Finally, Cornerstone Wealth Management LLC increased its holdings in Toro by 9.1% during the 1st quarter. Cornerstone Wealth Management LLC now owns 2,866 shares of the company's stock valued at $209,000 after acquiring an additional 240 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Toro

In related news, Director Gary Lee Ellis sold 5,038 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total transaction of $356,740.78. Following the sale, the director now directly owns 34,062 shares in the company, valued at approximately $2,411,930.22. This trade represents a 12.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.39% of the company's stock.

Toro Trading Up 0.5%

Shares of TTC stock opened at $70.67 on Wednesday. The firm's 50-day simple moving average is $71.58 and its 200-day simple moving average is $76.01. 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 Company has a 1-year low of $62.34 and a 1-year high of $100.93. The firm has a market cap of $6.97 billion, a P/E ratio of 18.12 and a beta of 0.83.

Toro (NYSE:TTC - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. Toro had a return on equity of 27.99% and a net margin of 8.77%. 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 business earned $1.40 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that Toro Company will post 4.41 EPS for the current year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Tuesday, June 17th. Toro's dividend payout ratio is presently 38.97%.

Analysts Set New Price Targets

Several analysts have issued reports on TTC shares. DA Davidson set a $76.00 price target on shares of Toro and gave the company a "neutral" rating in a research report on Monday, June 9th. Raymond James Financial lowered their target price on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Wall Street Zen downgraded Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Robert W. Baird upped their price objective on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Finally, Northland Securities restated a "market perform" rating and issued a $80.00 target price (down from $100.00) on shares of Toro in a report on Friday, June 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $82.75.

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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