New York State Common Retirement Fund lowered its position in shares of Toro Company (The) (NYSE:TTC - Free Report) by 17.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,330 shares of the company's stock after selling 30,828 shares during the period. New York State Common Retirement Fund owned about 0.15% of Toro worth $10,718,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in TTC. Captrust Financial Advisors raised its stake in shares of Toro by 33.8% during the 4th quarter. Captrust Financial Advisors now owns 52,934 shares of the company's stock worth $4,240,000 after buying an additional 13,373 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Toro by 7.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 535,787 shares of the company's stock worth $38,882,000 after acquiring an additional 37,405 shares during the last quarter. LPL Financial LLC raised its holdings in Toro by 33.6% in the 4th quarter. LPL Financial LLC now owns 57,435 shares of the company's stock valued at $4,601,000 after acquiring an additional 14,433 shares during the last quarter. M&T Bank Corp increased its stake in Toro by 11.2% in the first quarter. M&T Bank Corp now owns 10,915 shares of the company's stock valued at $794,000 after purchasing an additional 1,098 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Toro by 87.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company's stock worth $3,306,000 after acquiring an additional 21,214 shares during 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 company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on TTC shares. Robert W. Baird upped their target price on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Northland Securities reaffirmed a "market perform" rating and set a $80.00 price objective (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. DA Davidson set a $76.00 target price on shares of Toro and gave the company a "neutral" rating in a research note on Monday, June 9th. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Raymond James Financial decreased their price objective on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $82.75.
Check Out Our Latest Analysis on Toro
Toro Stock Down 0.4%
TTC stock traded down $0.32 during trading hours on Friday, reaching $73.74. 456,214 shares of the stock were exchanged, compared to its average volume of 917,614. The firm's 50-day moving average is $73.26 and its 200-day moving average is $74.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 18.91 and a beta of 0.81. Toro Company has a 12 month low of $62.34 and a 12 month high of $98.61.
Toro (NYSE:TTC - Get Free Report) last announced its 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. Toro had a return on equity of 27.99% and a net margin of 8.77%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company earned $1.40 earnings per share. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts expect that Toro Company will post 4.41 earnings per share for the current year.
Toro Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 17th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.06%. The ex-dividend date was Tuesday, June 17th. Toro's dividend payout ratio (DPR) is presently 38.97%.
About Toro
(
Free Report)
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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