US Bancorp DE Sells 3,615 Shares of Toro Company (The) (NYSE:TTC)

Key Points

• US Bancorp DE decreased its stake in Toro Company by 0.5%, owning approximately 0.80% of the company worth $57.89 million after selling 3,615 shares in the first quarter.
• Insider transactions saw VP Kurt D. Svendsen and Director Gary Lee Ellis decrease their positions in Toro Company by 34% and 12.88% respectively, selling shares valued at over $780,000 combined.
• Analysts have mixed ratings on Toro, with a consensus target price of $82.75, while recent price adjustments include a boost to $85.00 from Robert W. Baird and a reduction to $90.00 from Raymond James Financial.

US Bancorp DE lowered its position in shares of Toro Company (The) (NYSE:TTC - Free Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 795,770 shares of the company's stock after selling 3,615 shares during the quarter. US Bancorp DE owned about 0.80% of Toro worth $57,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in Toro by 45.5% during 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 buying an additional 2,199,920 shares during the period. Dimensional Fund Advisors LP lifted its position in Toro by 17.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company's stock valued at $88,152,000 after buying an additional 164,069 shares during the period. Northern Trust Corp lifted 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 valued at $86,651,000 after buying an additional 291,593 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in 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 period. Finally, Boston Trust Walden Corp lifted its position in Toro by 133.3% during 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. Hedge funds and other institutional investors own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the company's 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 transaction, the director owned 34,062 shares in the company, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt D. Svendsen sold 6,000 shares of the company's 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 transaction, the vice president owned 11,646 shares in the company, valued at $826,749.54. This represents a 34.00% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Toro Stock Performance

TTC traded down $0.56 during midday trading on Wednesday, hitting $74.00. 342,410 shares of the company traded hands, compared to its average volume of 972,517. The company has a quick ratio of 0.79, a current ratio of 1.81 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $7.30 billion, a PE ratio of 18.97 and a beta of 0.80. The company's 50-day moving average is $72.95 and its 200 day moving average is $74.27. Toro Company has a 52 week low of $62.34 and a 52 week high of $93.00.

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, research analysts expect that Toro Company will post 4.41 EPS for the current year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.38 per share. The ex-dividend date was Tuesday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.1%. Toro's dividend payout ratio is currently 38.97%.

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.