Toro Company (The) (NYSE:TTC) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd has increased its holdings in Toro Company (NYSE:TTC) by 67.7%, owning 23,340 shares worth approximately $1.7 million after buying an additional 9,422 shares.
• Toro reported a Q1 EPS of $1.42, exceeding estimates, but experienced a 2.3% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.38 per share, reflecting a 2.0% yield and a payout ratio of 38.97%.

XTX Topco Ltd boosted its holdings in Toro Company (The) (NYSE:TTC - Free Report) by 67.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,340 shares of the company's stock after buying an additional 9,422 shares during the period. XTX Topco Ltd's holdings in Toro were worth $1,698,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in 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 during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after buying an additional 127 shares during the last quarter. Financial Harvest LLC acquired a new stake in Toro in the 1st quarter worth about $42,000. Allworth Financial LP boosted its stake in Toro by 91.6% in the 1st quarter. Allworth Financial LP now owns 663 shares of the company's stock worth $46,000 after buying an additional 317 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Toro by 81.2% in the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock worth $63,000 after buying an additional 389 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction of $425,940.00. Following the sale, the vice president directly owned 11,646 shares in the company, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary Lee Ellis sold 5,038 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total value of $356,740.78. Following 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 Stock Performance

Shares of NYSE:TTC opened at $74.25 on Friday. The company has a market cap of $7.33 billion, a P/E ratio of 19.04 and a beta of 0.81. 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 Company has a one year low of $62.34 and a one year high of $96.88. The business's 50-day simple moving average is $73.00 and its 200 day simple moving average is $74.55.

Toro (NYSE:TTC - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.40 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. The company's revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. On average, sell-side analysts forecast that Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 17th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, June 17th. Toro's dividend payout ratio (DPR) is presently 38.97%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TTC. Northland Securities reissued a "market perform" rating and issued a $80.00 price target (down from $100.00) on shares of Toro in a research note on Friday, June 6th. Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. DA Davidson set a $76.00 price objective on Toro and gave the stock a "neutral" rating in a report on Monday, June 9th. Robert W. Baird raised their price objective on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Finally, Raymond James Financial cut their price objective on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Toro has an average rating of "Hold" and a consensus target price of $82.75.

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.

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