Nuance Investments LLC Has $18.57 Million Position in Toro Company (The) (NYSE:TTC)

Key Points

• Nuance Investments LLC reduced its holdings in Toro Company by 33.9%, now owning $18.57 million in shares, making it the 21st largest holding in their portfolio.
• The Toro Company reported earnings of $1.42 per share, surpassing analysts' expectations slightly, but achieved lower revenue of $1.32 billion compared to estimates.
• Toro recently declared a quarterly dividend of $0.38 per share, translating to an annualized dividend yield of 2.1%.

Nuance Investments LLC cut its holdings in shares of Toro Company (The) (NYSE:TTC - Free Report) by 33.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 255,292 shares of the company's stock after selling 130,868 shares during the quarter. Toro comprises 1.2% of Nuance Investments LLC's portfolio, making the stock its 21st biggest holding. Nuance Investments LLC owned 0.26% of Toro worth $18,573,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC increased its holdings in shares of Toro by 127.2% during the 4th 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 last quarter. Financial Harvest LLC acquired a new position in shares of Toro during the 1st quarter worth approximately $42,000. Allworth Financial LP boosted its stake in Toro by 91.6% in the 1st quarter. Allworth Financial LP now owns 663 shares of the company's stock valued at $46,000 after purchasing an additional 317 shares during the period. Versant Capital Management Inc boosted its stake in Toro by 81.2% in the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock valued at $63,000 after purchasing an additional 389 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in Toro in the 1st quarter valued at $82,000. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Stock Performance

NYSE:TTC opened at $73.47 on Tuesday. The stock has a fifty day moving average price of $72.82 and a 200-day moving average price of $73.88. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 18.84 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 fifty-two week low of $62.34 and a fifty-two week high of $93.00.

Toro (NYSE:TTC - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. The company's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 EPS. As a group, equities analysts anticipate that Toro Company will post 4.41 EPS for the current fiscal year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th were given 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 was Tuesday, June 17th. Toro's dividend payout ratio is presently 38.97%.

Insiders Place Their Bets

In other news, Director Gary Lee Ellis sold 5,038 shares of the company's 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 completion of the sale, the director directly owned 34,062 shares in the company, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Kurt D. Svendsen sold 6,000 shares of the business'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 transaction, the vice president directly owned 11,646 shares of the company's stock, valued at $826,749.54. This trade represents a 34.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on TTC shares. Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Robert W. Baird boosted their price target on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. DA Davidson set a $76.00 price target on Toro and gave the company a "neutral" rating in a research note on Monday, June 9th. Northland Securities restated a "market perform" rating and issued a $80.00 price target (down from $100.00) on shares of Toro in a research note on Friday, June 6th. Finally, Raymond James Financial reduced their price target on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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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