Price T Rowe Associates Inc. MD Has $463.72 Million Stake in Toro Company (The) $TTC

Key Points

• Price T Rowe Associates Inc. MD has reduced its position in Toro Company by 27.5%, selling over 2.4 million shares.
• Insider transactions included VP Kurt D. Svendsen selling 6,000 shares and Director Gary Lee Ellis selling 5,038 shares, indicating a decrease in their holdings.
• Analysts have adjusted Toro's price targets, with Northland Securities lowering theirs from $100 to $80, reflecting a mixed outlook on the stock's performance.

Price T Rowe Associates Inc. MD cut its holdings in Toro Company (The) (NYSE:TTC - Free Report) by 27.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,374,092 shares of the company's stock after selling 2,412,514 shares during the period. Price T Rowe Associates Inc. MD owned about 6.39% of Toro worth $463,717,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Toro by 1.6% in the first quarter. Vanguard Group Inc. now owns 10,495,037 shares of the company's stock valued at $763,514,000 after purchasing an additional 169,865 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Toro by 39.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,534,760 shares of the company's stock valued at $111,654,000 after purchasing an additional 434,257 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Toro by 36.9% in the fourth quarter. Northern Trust Corp now owns 1,081,782 shares of the company's stock valued at $86,651,000 after purchasing an additional 291,593 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of Toro by 3.2% in the first quarter. King Luther Capital Management Corp now owns 1,077,753 shares of the company's stock valued at $78,407,000 after purchasing an additional 33,920 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its holdings in shares of Toro by 9.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,024,721 shares of the company's stock valued at $82,080,000 after purchasing an additional 87,926 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TTC shares. Northland Securities reiterated a "market perform" rating and issued a $80.00 price objective (down from $100.00) on shares of Toro in a report on Friday, June 6th. Robert W. Baird raised their target price on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Longbow Research raised shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Monday. Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, DA Davidson raised shares of Toro from a "neutral" rating to a "buy" rating and raised their target price for the company from $76.00 to $93.00 in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Toro currently has an average rating of "Moderate Buy" and a consensus target price of $89.60.

Insiders Place Their Bets

In other news, VP Kurt D. Svendsen sold 6,000 shares of Toro stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction of $425,940.00. Following the completion of the sale, the vice president owned 11,646 shares of the company's stock, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of Toro stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the sale, 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 disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Toro Stock Performance

TTC stock traded up $1.54 during midday trading on Wednesday, reaching $82.75. 767,549 shares of the company were exchanged, compared to its average volume of 949,276. Toro Company has a one year low of $62.34 and a one year high of $93.00. 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 firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 21.22 and a beta of 0.80. The business has a 50-day moving average price of $74.30 and a two-hundred day moving average price of $73.56.

Toro (NYSE:TTC - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The company's revenue was down 2.3% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. Equities research analysts forecast that Toro Company will post 4.41 EPS for the current year.

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.