The Manufacturers Life Insurance Company Buys 36,051 Shares of Toro Company (The) $TTC

Key Points

• The Manufacturers Life Insurance Company increased its stake in Toro Company by 7.8%, owning approximately 500,660 shares valued at $36.4 million as of the latest reporting period.
• Toro reported a net margin of 8.77% and an earnings per share of $1.42, outperforming analysts' estimates for the quarter.
• Hedge funds and institutional investors collectively hold 87.95% of Toro's shares, indicating strong institutional support for the company.

The Manufacturers Life Insurance Company grew its position in Toro Company (The) (NYSE:TTC - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 500,660 shares of the company's stock after purchasing an additional 36,051 shares during the period. The Manufacturers Life Insurance Company owned about 0.50% of Toro worth $36,423,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TTC. Northern Trust Corp raised its holdings in shares of Toro by 36.9% during the fourth quarter. Northern Trust Corp now owns 1,081,782 shares of the company's stock worth $86,651,000 after acquiring an additional 291,593 shares during the period. AQR Capital Management LLC raised its holdings in shares of Toro by 2,603.4% during the fourth quarter. AQR Capital Management LLC now owns 152,824 shares of the company's stock worth $12,241,000 after acquiring an additional 147,171 shares during the period. Comerica Bank raised its holdings in shares of Toro by 10.3% during the fourth quarter. Comerica Bank now owns 55,462 shares of the company's stock worth $4,443,000 after acquiring an additional 5,183 shares during the period. Jane Street Group LLC raised its holdings in shares of Toro by 836.4% during the fourth quarter. Jane Street Group LLC now owns 92,355 shares of the company's stock worth $7,398,000 after acquiring an additional 82,492 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Toro by 263.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,911 shares of the company's stock worth $874,000 after acquiring an additional 7,910 shares during the period. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Toro

In other news, Director Gary Lee Ellis sold 5,038 shares of Toro stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the transaction, the director owned 34,062 shares of the company's stock, valued at $2,411,930.22. This trade represents a 12.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kurt D. Svendsen sold 6,000 shares of Toro 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 completion of the transaction, the vice president directly 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 disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TTC shares. Raymond James Financial dropped their price objective on shares of Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Northland Securities restated a "market perform" rating and set a $80.00 price objective (down from $100.00) on shares of Toro in a report on Friday, June 6th. 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 report on Monday, August 25th. 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 report on Tuesday, June 3rd. Finally, Northland Capmk downgraded shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $89.60.

Toro Stock Down 0.1%

Toro stock traded down $0.09 during mid-day trading on Thursday, reaching $80.44. The company's stock had a trading volume of 2,383,805 shares, compared to its average volume of 965,607. The business's 50 day simple moving average is $75.68 and its 200 day simple moving average is $73.66. Toro Company has a 12 month low of $62.34 and a 12 month high of $89.50. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 20.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81.

Toro (NYSE:TTC - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The company reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. Toro had a net margin of 8.77% and a return on equity of 27.99%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $1.18 EPS. The company's quarterly revenue was down 2.2% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. As a group, research analysts anticipate that Toro Company will post 4.41 earnings per share for the current year.

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.