Virginia Retirement Systems ET AL trimmed its position in shares of Toro (NYSE:TTC) by 23.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,300 shares of the company’s stock after selling 1,600 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Toro were worth $331,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Premia Global Advisors LLC bought a new stake in Toro during the 4th quarter valued at approximately $180,000. Advisor Partners LLC bought a new stake in Toro during the 4th quarter valued at approximately $214,000. Sciencast Management LP bought a new stake in shares of Toro in the 4th quarter worth approximately $236,000. Lake Street Advisors Group LLC bought a new stake in shares of Toro in the 4th quarter worth approximately $240,000. Finally, Granite Investment Advisors LLC bought a new stake in shares of Toro in the 4th quarter worth approximately $261,000. 76.07% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on TTC. Zacks Investment Research cut Toro from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. ValuEngine cut Toro from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Finally, Cleveland Research cut Toro from a “buy” rating to a “neutral” rating in a research report on Monday, May 14th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $71.00.
In related news, VP Blake M. Grams sold 8,200 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $64.47, for a total value of $528,654.00. Following the transaction, the vice president now directly owns 8,200 shares of the company’s stock, valued at approximately $528,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katherine J. Harless sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $61.09, for a total value of $488,720.00. Following the completion of the transaction, the director now directly owns 69,523 shares in the company, valued at $4,247,160.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,200 shares of company stock worth $1,465,864. Insiders own 5.69% of the company’s stock.
Shares of TTC opened at $60.00 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. Toro has a 52 week low of $56.60 and a 52 week high of $73.86. The company has a market capitalization of $6.37 billion, a PE ratio of 24.90, a P/E/G ratio of 2.19 and a beta of 0.66.
Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Toro had a return on equity of 44.59% and a net margin of 9.67%. The firm had revenue of $548.25 million for the quarter, compared to analysts’ expectations of $538.92 million. During the same period in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. analysts forecast that Toro will post 2.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Stockholders of record on Friday, June 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, June 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.33%. Toro’s dividend payout ratio is currently 33.20%.
The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.
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