Verition Fund Management LLC raised its stake in Toro Co (NYSE:TTC) by 205.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,122 shares of the company’s stock after acquiring an additional 13,536 shares during the period. Verition Fund Management LLC’s holdings in Toro were worth $1,313,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Toro by 2.3% during the fourth quarter. BlackRock Inc. now owns 9,014,257 shares of the company’s stock valued at $587,999,000 after buying an additional 204,035 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Toro by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,717,251 shares of the company’s stock worth $112,016,000 after purchasing an additional 19,014 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Toro by 26.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,609,526 shares of the company’s stock worth $104,989,000 after purchasing an additional 340,039 shares in the last quarter. American Century Companies Inc. raised its holdings in Toro by 33.2% during the fourth quarter. American Century Companies Inc. now owns 1,186,721 shares of the company’s stock worth $77,410,000 after purchasing an additional 295,592 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Toro by 143.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,028,994 shares of the company’s stock worth $67,121,000 after purchasing an additional 605,894 shares in the last quarter. Institutional investors own 75.50% of the company’s stock.
Shares of NYSE TTC traded down $1.66 during trading on Friday, hitting $60.51. The company had a trading volume of 357,563 shares, compared to its average volume of 497,812. The stock has a market capitalization of $6,486.31, a P/E ratio of 25.11, a P/E/G ratio of 2.27 and a beta of 0.64. Toro Co has a 52 week low of $58.39 and a 52 week high of $73.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.81 and a current ratio of 1.57.
Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $548.25 million for the quarter, compared to analysts’ expectations of $538.92 million. Toro had a return on equity of 44.59% and a net margin of 9.67%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. research analysts forecast that Toro Co will post 2.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, April 3rd. Toro’s payout ratio is 33.20%.
In other Toro news, Director Katherine J. Harless sold 8,000 shares of Toro stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $61.09, for a total transaction of $488,720.00. Following the transaction, the director now directly owns 69,523 shares in the company, valued at approximately $4,247,160.07. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Richard W. Rodier sold 4,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $64.67, for a total transaction of $258,680.00. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 87,000 shares of company stock worth $11,910 and have sold 23,200 shares worth $1,465,864. Insiders own 5.69% of the company’s stock.
Separately, Zacks Investment Research cut Toro from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating, Toro presently has an average rating of “Hold” and a consensus target price of $71.00.
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Toro Company Profile
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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