KBC Group NV Sells 47,353 Shares of Toro Company (The) (NYSE:TTC)

KBC Group NV decreased its stake in Toro Company (The) (NYSE:TTC - Free Report) by 57.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,758 shares of the company's stock after selling 47,353 shares during the period. KBC Group NV's holdings in Toro were worth $2,528,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC grew its holdings 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 acquiring an additional 206 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of 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. Versant Capital Management Inc grew its position in shares of 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. Covestor Ltd boosted its holdings in Toro by 60.5% in the fourth quarter. Covestor Ltd now owns 1,181 shares of the company's stock valued at $95,000 after acquiring an additional 445 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Toro in the first quarter valued at $127,000. Institutional investors own 87.95% of the company's stock.

Insider Activity at Toro

In related news, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Lee Ellis sold 5,038 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the transaction, the director directly owned 34,062 shares in the company, valued at $2,411,930.22. This trade represents a 12.88% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TTC shares. Wall Street Zen lowered shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. 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. Robert W. Baird boosted their target price on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Northland Securities reissued a "market perform" rating and set a $80.00 price objective (down previously from $100.00) on shares of Toro in a research note on Friday, June 6th. Finally, 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 research note on Friday, June 6th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $82.75.

Toro Stock Down 1.1%

TTC stock traded down $0.85 during midday trading on Monday, hitting $73.69. The company's stock had a trading volume of 609,143 shares, compared to its average volume of 929,974. The company has a market cap of $7.27 billion, a PE ratio of 18.89 and a beta of 0.81. 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 Company has a 12 month low of $62.34 and a 12 month high of $100.93. The firm's 50-day moving average is $72.53 and its 200-day moving average is $75.13.

Toro (NYSE:TTC - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (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 analysts' expectations of $1.35 billion. Toro had a net margin of 8.77% and a return on equity of 27.99%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 EPS. On average, equities research analysts forecast 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 will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be given a $0.38 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.06%. Toro's payout ratio 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.