First Republic Investment Management Inc. Buys Shares of 38,654 Toro Co (TTC)

First Republic Investment Management Inc. bought a new stake in shares of Toro Co (NYSE:TTC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 38,654 shares of the company’s stock, valued at approximately $2,329,000.

A number of other large investors have also made changes to their positions in TTC. Victory Capital Management Inc. lifted its position in shares of Toro by 31.9% in the 1st quarter. Victory Capital Management Inc. now owns 48,355 shares of the company’s stock worth $3,020,000 after acquiring an additional 11,697 shares during the period. Swiss National Bank lifted its position in shares of Toro by 2.3% in the 1st quarter. Swiss National Bank now owns 188,000 shares of the company’s stock worth $11,741,000 after acquiring an additional 4,200 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Toro by 259.9% in the 1st quarter. Thrivent Financial for Lutherans now owns 84,609 shares of the company’s stock worth $5,284,000 after acquiring an additional 61,097 shares during the period. Eagle Asset Management Inc. lifted its position in shares of Toro by 6.9% in the 1st quarter. Eagle Asset Management Inc. now owns 111,553 shares of the company’s stock worth $6,966,000 after acquiring an additional 7,191 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Toro by 2.4% in the 1st quarter. Northern Trust Corp now owns 836,616 shares of the company’s stock worth $52,246,000 after acquiring an additional 19,456 shares during the period. Hedge funds and other institutional investors own 76.35% of the company’s stock.

Shares of TTC stock opened at $62.39 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.48. Toro Co has a 12 month low of $56.60 and a 12 month high of $67.81. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 2.34 and a beta of 0.61.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, August 23rd. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. Toro had a return on equity of 46.89% and a net margin of 10.39%. The company had revenue of $655.80 million during the quarter, compared to the consensus estimate of $664.75 million. During the same quarter last year, the company earned $0.61 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. equities research analysts forecast that Toro Co will post 2.69 EPS for the current year.

A number of analysts have commented on the company. ValuEngine upgraded Toro from a “sell” rating to a “hold” rating in a research report on Thursday, May 24th. Dougherty & Co upgraded Toro from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, June 11th. Finally, Zacks Investment Research upgraded Toro from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th.

In related news, VP Darren L. Redetzke sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the vice president now owns 13,065 shares in the company, valued at approximately $783,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bradley A. Hamilton sold 6,060 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $62.74, for a total value of $380,204.40. The disclosure for this sale can be found here. Insiders have sold a total of 34,286 shares of company stock valued at $2,098,675 in the last 90 days. 5.69% of the stock is owned by corporate insiders.

Toro Profile

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.

Featured Article: Asset Allocation

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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