Skandinaviska Enskilda Banken AB publ Has $36,000 Stake in Toro Company (The) (NYSE:TTC)

Skandinaviska Enskilda Banken AB publ cut its position in shares of Toro Company (The) (NYSE:TTC - Free Report) by 97.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 494 shares of the company's stock after selling 21,554 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Toro were worth $36,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors grew its holdings in shares of Toro by 33.8% in the fourth quarter. Captrust Financial Advisors now owns 52,934 shares of the company's stock valued at $4,240,000 after purchasing an additional 13,373 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Toro by 7.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 535,787 shares of the company's stock valued at $38,882,000 after purchasing an additional 37,405 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Toro by 33.6% in the fourth quarter. LPL Financial LLC now owns 57,435 shares of the company's stock valued at $4,601,000 after purchasing an additional 14,433 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Toro by 11.2% in the first quarter. M&T Bank Corp now owns 10,915 shares of the company's stock valued at $794,000 after purchasing an additional 1,098 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Toro by 87.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company's stock valued at $3,306,000 after purchasing an additional 21,214 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. DA Davidson set a $76.00 target price on shares of Toro and gave the company a "neutral" rating in a report on Monday, June 9th. Northland Securities reiterated a "market perform" rating and issued a $80.00 price target (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. Northland Capmk downgraded shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Raymond James Financial reduced their price target on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $82.75.

Insider Activity at Toro

In other news, VP Kurt D. Svendsen sold 6,000 shares of Toro stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $70.99, for a total transaction of $425,940.00. Following the sale, the vice president owned 11,646 shares in the company, valued at $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 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. This trade represents a 12.88% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

Toro Price Performance

Shares of TTC traded down $1.35 during trading hours on Friday, reaching $72.90. The company had a trading volume of 670,940 shares, compared to its average volume of 574,161. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 18.69 and a beta of 0.80. Toro Company has a 12-month low of $62.34 and a 12-month high of $93.00. The firm has a 50 day simple moving average of $72.96 and a 200-day simple moving average of $74.39. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73.

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

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 17th were issued a $0.38 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.1%. Toro's dividend payout ratio (DPR) is presently 38.97%.

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.