XTX Topco Ltd Buys 9,422 Shares of Toro Company (The) (NYSE:TTC)

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 raised its holdings in Toro Company (The) (NYSE:TTC - Free Report) by 67.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,340 shares of the company's stock after acquiring an additional 9,422 shares during the quarter. XTX Topco Ltd's holdings in Toro were worth $1,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TTC. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Toro by 45.5% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock valued at $563,207,000 after acquiring an additional 2,199,920 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Toro by 17.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company's stock worth $88,152,000 after purchasing an additional 164,069 shares during the period. Northern Trust Corp raised its position 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 valued at $86,651,000 after buying an additional 291,593 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of Toro by 9.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,024,721 shares of the company's stock valued at $82,080,000 after buying an additional 87,926 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its stake in shares of Toro by 133.3% in the first quarter. Boston Trust Walden Corp now owns 779,419 shares of the company's stock valued at $56,703,000 after buying an additional 445,287 shares during the period. Institutional investors own 87.95% of the company's stock.

Toro Trading Up 0.2%

Shares of NYSE TTC traded up $0.15 during mid-day trading on Tuesday, hitting $74.55. The company's stock had a trading volume of 241,726 shares, compared to its average volume of 973,974. Toro Company has a one year low of $62.34 and a one year high of $93.00. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 19.13 and a beta of 0.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. The company's fifty day simple moving average is $72.97 and its 200-day simple moving average is $74.27.

Toro (NYSE:TTC - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Toro had a net margin of 8.77% and a return on equity of 27.99%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $1.40 EPS. On average, sell-side analysts anticipate that Toro Company will post 4.41 earnings per share for the current fiscal 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 dividend of $0.38 per share. The ex-dividend date was Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a yield of 2.0%. Toro's dividend payout ratio (DPR) is presently 38.97%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Toro

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $70.99, for a total value of $425,940.00. Following the transaction, the vice president directly owned 11,646 shares in the company, valued at $826,749.54. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total transaction of $356,740.78. Following the completion of the transaction, the director directly owned 34,062 shares in the company, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

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.