47,437 Shares in Toro Company (The) (NYSE:TTC) Purchased by Wealthquest Corp

Wealthquest Corp acquired a new position in shares of Toro Company (The) (NYSE:TTC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 47,437 shares of the company's stock, valued at approximately $3,726,000. Toro makes up approximately 0.4% of Wealthquest Corp's investment portfolio, making the stock its 19th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of TTC. Lecap Asset Management Ltd. purchased a new stake in Toro during the first quarter worth about $2,196,000. AssuredPartners Investment Advisors LLC raised its stake in shares of Toro by 9.9% during the 1st quarter. AssuredPartners Investment Advisors LLC now owns 5,238 shares of the company's stock valued at $381,000 after purchasing an additional 474 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Toro by 1.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock valued at $1,033,000 after acquiring an additional 173 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Toro by 133.3% during the 1st quarter. Boston Trust Walden Corp now owns 779,419 shares of the company's stock valued at $56,703,000 after purchasing an additional 445,287 shares in the last quarter. Finally, Mayfair Advisory Group LLC bought a new position in Toro in the 1st quarter worth about $217,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Toro

In related news, Director Gary Lee Ellis sold 5,038 shares of Toro stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the sale, the director now directly owns 34,062 shares in the company, valued at $2,411,930.22. This trade represents a 12.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TTC has been the topic of a number of research analyst reports. DA Davidson set a $76.00 target price on Toro and gave the company a "neutral" rating in a research note on Monday, June 9th. Northland Securities reiterated a "market perform" rating and set a $80.00 price target (down from $100.00) on shares of Toro in a report on Friday, June 6th. Robert W. Baird upped their target price on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Wall Street Zen cut Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $82.75.

Toro Price Performance

Shares of NYSE:TTC traded up $0.60 during midday trading on Thursday, reaching $71.01. 615,161 shares of the company were exchanged, compared to its average volume of 939,755. The stock has a market cap of $7.01 billion, a PE ratio of 18.21 and a beta of 0.83. The business's fifty day moving average is $71.74 and its two-hundred day moving average is $75.86. 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 one year low of $62.34 and a one year high of $100.93.

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. Toro had a return on equity of 27.99% and a net margin of 8.77%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business posted $1.40 earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. As a group, analysts predict that Toro Company will post 4.41 earnings per share for the current year.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Tuesday, June 17th. Toro's dividend payout ratio (DPR) is presently 38.97%.

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.