Raymond James Financial Inc. Grows Stock Position in Toro Company (The) $TTC

Key Points

• Raymond James Financial Inc. increased its stake in Toro Company by 8.8%, acquiring an additional 40,166 shares, bringing its total ownership to 496,608 shares valued at approximately $36.1 million.
• Wall Street analysts have set varied price targets for Toro, with a consensus target of $82.75, while ratings mostly reflect a "Hold" position following recent adjustments.
• Toro reported a net margin of 8.77% in its latest earnings, exceeding EPS expectations while experiencing a slight revenue decrease of 2.3% compared to the previous year.

Raymond James Financial Inc. raised its position in shares of Toro Company (The) (NYSE:TTC - Free Report) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 496,608 shares of the company's stock after purchasing an additional 40,166 shares during the period. Raymond James Financial Inc. owned about 0.50% of Toro worth $36,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of TTC. Sprucegrove Investment Management Ltd. purchased a new position in shares of Toro in the 1st quarter valued at $1,542,000. Cresset Asset Management LLC increased its holdings in shares of Toro by 8.2% in the 1st quarter. Cresset Asset Management LLC now owns 12,064 shares of the company's stock valued at $882,000 after acquiring an additional 912 shares during the period. American Century Companies Inc. increased its holdings in shares of Toro by 324.2% in the 1st quarter. American Century Companies Inc. now owns 131,485 shares of the company's stock valued at $9,566,000 after acquiring an additional 100,487 shares during the period. Brandywine Global Investment Management LLC increased its holdings in shares of Toro by 176.0% in the 1st quarter. Brandywine Global Investment Management LLC now owns 59,735 shares of the company's stock valued at $4,346,000 after acquiring an additional 38,088 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Toro by 39.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,534,760 shares of the company's stock valued at $111,654,000 after acquiring an additional 434,257 shares during the period. 87.95% of the stock is owned by institutional investors.

Insider Transactions at Toro

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of Toro 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 completion of the sale, the director owned 34,062 shares of the company's stock, valued at approximately $2,411,930.22. The trade was a 12.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kurt D. Svendsen sold 6,000 shares of Toro stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the sale, the vice president directly owned 11,646 shares of the company's stock, valued at approximately $826,749.54. This represents a 34.00% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company's stock.

Toro Stock Down 0.7%

Shares of Toro stock traded down $0.60 during trading on Friday, reaching $81.40. The company's stock had a trading volume of 171,051 shares, compared to its average volume of 946,923. The company has a quick ratio of 0.79, a current ratio of 1.81 and a debt-to-equity ratio of 0.73. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 20.85 and a beta of 0.80. Toro Company has a 1-year low of $62.34 and a 1-year high of $93.00. The company has a 50-day simple moving average of $74.82 and a two-hundred day simple moving average of $73.64.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $1.42 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 company 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 firm posted $1.40 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. As a group, equities analysts forecast that Toro Company will post 4.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

TTC has been the topic of a number of analyst reports. Longbow Research upgraded Toro from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Monday. DA Davidson upgraded Toro from a "neutral" rating to a "buy" rating and lifted their price target for the company from $76.00 to $93.00 in a report 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 report on Friday, June 6th. Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Finally, Robert W. Baird raised their price objective on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Toro has a consensus rating of "Moderate Buy" and a consensus price target of $89.60.

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.