Royal Bank of Canada Has $10.80 Million Position in Toro Company (The) $TTC

Key Points

• Royal Bank of Canada reduced its holdings in Toro Company by 10.4%, owning approximately 0.15% of the company worth around $10.8 million after selling 17,138 shares in the first quarter.
• Toro reported a $1.24 EPS for the last quarter, slightly surpassing the consensus estimate, with a revenue of $1.13 billion, which was below analyst expectations.
• Recent analyst reports have raised Toro's target prices, with Northland Securities increasing theirs from $80 to $90 while maintaining a "market perform" rating.

Royal Bank of Canada lowered its holdings in Toro Company (The) (NYSE:TTC - Free Report) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,384 shares of the company's stock after selling 17,138 shares during the period. Royal Bank of Canada owned approximately 0.15% of Toro worth $10,796,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its position in Toro by 1.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock worth $1,033,000 after purchasing an additional 173 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Toro by 127.2% in the fourth quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after buying an additional 206 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Toro by 5.3% in the fourth quarter. Baird Financial Group Inc. now owns 4,396 shares of the company's stock valued at $352,000 after buying an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Toro by 9.1% in the first 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. Finally, Brooklyn Investment Group raised its position in Toro by 94.1% in the first quarter. Brooklyn Investment Group now owns 495 shares of the company's stock worth $36,000 after acquiring an additional 240 shares during the period. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $70.99, for a total transaction of $425,940.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.39% of the company's stock.

Toro Stock Up 1.8%

Shares of NYSE TTC opened at $79.87 on Friday. The firm's 50-day moving average price is $76.60 and its 200-day moving average price is $73.62. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 24.20 and a beta of 0.80. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. Toro Company has a 12-month low of $62.34 and a 12-month high of $89.50.

Toro (NYSE:TTC - Get Free Report) last released its earnings results on Thursday, September 4th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.02. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. Toro had a net margin of 7.37% and a return on equity of 28.98%. The business's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $1.18 EPS. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. On average, equities research analysts anticipate that Toro Company will post 4.41 EPS for the current fiscal year.

Analysts Set New Price Targets

TTC has been the topic of several recent research reports. Northland Securities increased their target price on Toro from $80.00 to $90.00 and gave the stock a "market perform" rating in a research report on Tuesday. Robert W. Baird raised their target price on shares of Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. DA Davidson lifted their target price on shares of Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Monday, August 25th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $92.60.

About Toro

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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