Evergreen Capital Management LLC Decreases Stock Position in Toro Company (The) $TTC

Key Points

• Evergreen Capital Management LLC reduced its stake in Toro Company by 42.1%, now holding 5,097 shares valued at approximately $373,000 after selling 3,710 shares during the first quarter.
• Several hedge funds increased their holdings in Toro, with Kayne Anderson Rudnick Investment Management LLC boosting its position by 16.4%, now owning shares worth $595.6 million.
• Analysts have mixed ratings for Toro, with an average price target of $89.60, while recent earnings showed an EPS of $1.42, slightly exceeding estimates.

Evergreen Capital Management LLC lowered its holdings in shares of Toro Company (The) (NYSE:TTC - Free Report) by 42.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,097 shares of the company's stock after selling 3,710 shares during the period. Evergreen Capital Management LLC's holdings in Toro were worth $373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Toro by 1.6% during the first quarter. Vanguard Group Inc. now owns 10,495,037 shares of the company's stock worth $763,514,000 after acquiring an additional 169,865 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Toro by 16.4% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,187,609 shares of the company's stock worth $595,649,000 after acquiring an additional 1,156,314 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Toro by 39.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,534,760 shares of the company's stock worth $111,654,000 after acquiring an additional 434,257 shares during the last quarter. Northern Trust Corp raised its position in 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 last quarter. Finally, King Luther Capital Management Corp raised its position in Toro by 3.2% during the first quarter. King Luther Capital Management Corp now owns 1,077,753 shares of the company's stock worth $78,407,000 after acquiring an additional 33,920 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TTC shares. Northland Securities restated a "market perform" rating and set a $80.00 target price (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. Longbow Research raised shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Monday, August 25th. Raymond James Financial cut their price objective 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. Robert W. Baird boosted their price objective on shares of Toro from $82.00 to $86.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Toro currently has an average rating of "Moderate Buy" and an average price target of $90.60.

Toro Trading Up 1.3%

Toro stock traded up $1.07 during trading on Friday, reaching $81.68. The company had a trading volume of 954,101 shares, compared to its average volume of 877,418. Toro Company has a 12-month low of $62.34 and a 12-month high of $89.50. The stock's 50 day moving average price is $76.10 and its two-hundred day moving average price is $73.66. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 24.75 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 released its earnings results on Thursday, September 4th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. Toro had a net margin of 7.37% and a return on equity of 28.55%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $1.18 earnings per share. Toro's revenue was down 2.2% compared to the same quarter last year. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. As a group, equities analysts expect that Toro Company will post 4.41 earnings per share for the current fiscal year.

Insider Activity at Toro

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of the business's 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of the company's stock in a transaction on 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 owned 34,062 shares of the company's stock, valued at $2,411,930.22. This trade represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

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.