Toro Company (The) $TTC Shares Sold by Royal Bank of Canada

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 cut its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 148,384 shares of the company's stock after selling 17,138 shares during the period. Royal Bank of Canada owned about 0.15% of Toro worth $10,796,000 at the end of the most recent quarter.

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

Toro Stock Down 0.4%

NYSE TTC traded down $0.33 on Wednesday, hitting $79.18. 631,281 shares of the stock were exchanged, compared to its average volume of 877,137. The company has a quick ratio of 0.79, a current ratio of 1.88 and a debt-to-equity ratio of 0.72. Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $89.50. The company has a market cap of $7.75 billion, a PE ratio of 23.99 and a beta of 0.80. The company has a 50-day moving average price of $76.99 and a 200-day moving average price of $73.59.

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

Insiders Place Their Bets

In other news, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction that occurred 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 approximately $826,749.54. This represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TTC. Northland Capmk lowered Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Longbow Research raised shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Monday, August 25th. Robert W. Baird raised their price target on shares of Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. DA Davidson upped their price objective on Toro from $93.00 to $97.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Raymond James Financial dropped their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, June 6th. 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, Toro presently has a consensus rating of "Moderate Buy" and a consensus price target 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.