Treasurer of the State of North Carolina increased its stake in shares of The Toro Company (NYSE:TTC – Free Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,168 shares of the company’s stock after purchasing an additional 450 shares during the period. Treasurer of the State of North Carolina’s holdings in Toro were worth $4,432,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Toro by 15.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 42,813 shares of the company’s stock worth $3,558,000 after purchasing an additional 5,612 shares during the last quarter. Jump Financial LLC grew its stake in Toro by 45.0% in the 3rd quarter. Jump Financial LLC now owns 8,585 shares of the company’s stock worth $713,000 after acquiring an additional 2,665 shares during the period. New York Life Investment Management LLC raised its holdings in Toro by 102.1% in the 3rd quarter. New York Life Investment Management LLC now owns 11,503 shares of the company’s stock valued at $956,000 after acquiring an additional 5,810 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Toro by 2.8% during the 3rd quarter. Amalgamated Bank now owns 77,386 shares of the company’s stock worth $6,431,000 after purchasing an additional 2,132 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Toro by 4.6% during the third quarter. Spire Wealth Management now owns 4,573 shares of the company’s stock worth $380,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.
Insider Transactions at Toro
In related news, VP Edric C. Funk sold 615 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $89.57, for a total transaction of $55,085.55. Following the sale, the vice president now directly owns 1,049 shares in the company, valued at approximately $93,958.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Toro news, Director Gary Lee Ellis sold 5,192 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.75, for a total value of $460,790.00. Following the completion of the transaction, the director now directly owns 33,051 shares of the company’s stock, valued at approximately $2,933,276.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Edric C. Funk sold 615 shares of Toro stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $89.57, for a total value of $55,085.55. Following the sale, the vice president now directly owns 1,049 shares in the company, valued at $93,958.93. The disclosure for this sale can be found here. Company insiders own 1.62% of the company’s stock.
Toro Stock Performance
NYSE TTC opened at $80.30 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 0.86. The Toro Company has a 1-year low of $77.15 and a 1-year high of $106.68. The firm has a market capitalization of $8.38 billion, a P/E ratio of 29.31 and a beta of 0.67. The business’s 50-day simple moving average is $86.59 and its 200-day simple moving average is $89.42.
Toro (NYSE:TTC – Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Toro had a net margin of 6.53% and a return on equity of 26.66%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the firm earned $0.98 earnings per share. The company’s quarterly revenue was down 12.8% on a year-over-year basis. Equities analysts predict that The Toro Company will post 4.3 EPS for the current year.
Toro Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Tuesday, June 18th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, June 18th. Toro’s dividend payout ratio (DPR) is presently 52.55%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. DA Davidson increased their target price on Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. StockNews.com lowered shares of Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. TheStreet raised shares of Toro from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th. Finally, Robert W. Baird dropped their price target on shares of Toro from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $96.25.
Check Out Our Latest Research Report on TTC
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.
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