Victory Capital Management Inc. Sells 125,993 Shares of Toro Company (The) (NYSE:TTC)

Victory Capital Management Inc. cut its position in shares of Toro Company (The) (NYSE:TTC - Free Report) by 30.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 288,968 shares of the company's stock after selling 125,993 shares during the quarter. Victory Capital Management Inc. owned 0.29% of Toro worth $21,022,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC increased its stake 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 valued at $43,000 after purchasing an additional 127 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Toro by 1.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock valued at $1,033,000 after purchasing an additional 173 shares during the period. True Wealth Design LLC lifted its stake in shares of Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after purchasing an additional 206 shares during the period. Baird Financial Group Inc. increased its position in Toro by 5.3% in the 4th quarter. Baird Financial Group Inc. now owns 4,396 shares of the company's stock valued at $352,000 after buying an additional 220 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its position in Toro by 9.2% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,777 shares of the company's stock valued at $223,000 after buying an additional 234 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TTC shares. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Robert W. Baird raised their price target on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. DA Davidson set a $76.00 price target on Toro and gave the stock a "neutral" rating in a research note on Monday, June 9th. Northland Securities restated a "market perform" rating and issued a $80.00 price target (down from $100.00) on shares of Toro in a research note on Friday, June 6th. Finally, Raymond James Financial dropped their price target on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $82.75.

Toro Stock Performance

Toro stock opened at $73.16 on Tuesday. 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 1 year low of $62.34 and a 1 year high of $98.61. The company has a market cap of $7.22 billion, a PE ratio of 18.76 and a beta of 0.81. The company's 50-day moving average is $73.21 and its two-hundred day moving average is $74.69.

Toro (NYSE:TTC - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. Toro had a net margin of 8.77% and a return on equity of 27.99%. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period last year, the business earned $1.40 earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. Equities analysts anticipate that Toro Company will post 4.41 earnings per share for the current year.

Toro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 17th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, June 17th. Toro's payout ratio is currently 38.97%.

Insider Buying and Selling at Toro

In related news, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction 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 filing with the SEC, which is accessible through this link. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.