Corebridge Financial Inc. Sells 4,962 Shares of Toro Company (The) $TTC

Key Points

• Corebridge Financial Inc. reduced its stake in Toro Company by 4.3% in the first quarter, now holding 111,150 shares valued at approximately $8.1 million.
• Multiple hedge funds, including Integrated Wealth Concepts LLC and AQR Capital Management LLC, made significant changes to their positions in Toro, with some increasing their stakes by over 400%.
• Toro recently reported an EPS of $1.42 for the quarter, surpassing estimates, but its quarterly revenue saw a 2.3% decline year-over-year.

Corebridge Financial Inc. lessened its stake in Toro Company (The) (NYSE:TTC - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 111,150 shares of the company's stock after selling 4,962 shares during the period. Corebridge Financial Inc. owned about 0.11% of Toro worth $8,086,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TTC. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Toro by 16.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,187,609 shares of the company's stock worth $595,649,000 after purchasing an additional 1,156,314 shares during the last quarter. Boston Trust Walden Corp raised its holdings 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 last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 period. The Manufacturers Life Insurance Company increased its stake in shares of Toro by 411.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 464,609 shares of the company's stock worth $37,215,000 after acquiring an additional 373,736 shares during the period. Finally, Northern Trust Corp increased its stake 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. Institutional investors and hedge funds own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TTC. Longbow Research raised shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Monday, August 25th. 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 research note on Tuesday, June 3rd. DA Davidson upgraded shares of Toro from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $76.00 to $93.00 in a research report on Monday, August 25th. Northland Capmk downgraded shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Finally, Raymond James Financial cut their price target 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. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Toro has an average rating of "Moderate Buy" and a consensus price target of $89.60.

Insiders Place Their Bets

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of the 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 owned 11,646 shares in the company, valued at $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 owned 34,062 shares of the company's stock, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Toro Trading Down 1.2%

Shares of NYSE:TTC traded down $0.98 during midday trading on Friday, hitting $81.02. 1,130,950 shares of the stock were exchanged, compared to its average volume of 735,129. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 20.77 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. The business's 50-day moving average price is $75.05 and its 200 day moving average price is $73.56. Toro Company has a 12 month low of $62.34 and a 12 month high of $93.00.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly 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. Toro had a return on equity of 27.99% and a net margin of 8.77%.The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The company's revenue was down 2.3% compared to the same quarter last year. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. Analysts predict that Toro Company will post 4.41 earnings per share for the current year.

Toro Company 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.