The Toro Company (NYSE:TTC) Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA lessened its position in shares of The Toro Company (NYSE:TTC - Free Report) by 57.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,071 shares of the company's stock after selling 18,012 shares during the period. Union Bancaire Privee UBP SA's holdings in Toro were worth $978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TTC. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Toro by 45.5% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock worth $563,207,000 after acquiring an additional 2,199,920 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Toro by 996,664.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company's stock worth $39,410,000 after acquiring an additional 498,332 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Toro during the 4th quarter worth approximately $36,561,000. The Manufacturers Life Insurance Company grew its holdings in Toro by 411.3% during the 4th 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 in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Toro by 693.0% during the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock worth $33,238,000 after acquiring an additional 362,634 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Toro Stock Performance

TTC traded down $2.48 during trading on Friday, hitting $67.27. 1,006,896 shares of the stock were exchanged, compared to its average volume of 935,481. The firm has a market capitalization of $6.64 billion, a P/E ratio of 16.78 and a beta of 0.83. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. The stock has a fifty day moving average price of $71.28 and a two-hundred day moving average price of $76.84. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC - Get Free Report) last released its quarterly 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 company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 earnings per share. As a group, sell-side analysts predict that The Toro Company will post 4.41 earnings per share for the current year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, June 17th. Toro's payout ratio is currently 38.97%.

Insider Activity

In related news, Director Gary Lee Ellis sold 5,038 shares of Toro stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the sale, the director now directly owns 34,062 shares in the company, valued at $2,411,930.22. The trade was a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TTC shares. Wall Street Zen cut Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Robert W. Baird boosted their target price on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Raymond James decreased 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. DA Davidson set a $76.00 target price on Toro and gave the stock a "neutral" rating in a research note on Monday, June 9th. Finally, Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $82.75.

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.