BlackRock Inc. Sells 39,620 Shares of Toro Co (TTC)

BlackRock Inc. decreased its stake in Toro Co (NYSE:TTC) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,445,965 shares of the company’s stock after selling 39,620 shares during the quarter. BlackRock Inc. owned about 0.09% of Toro worth $566,474,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Eagle Asset Management Inc. raised its position in Toro by 2.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 119,301 shares of the company’s stock valued at $7,154,000 after purchasing an additional 2,925 shares in the last quarter. Piedmont Investment Advisors Inc. bought a new position in shares of Toro in the 3rd quarter worth $447,000. Commonwealth Bank of Australia bought a new position in shares of Toro in the 3rd quarter worth $347,000. Twin Capital Management Inc. raised its position in shares of Toro by 40.0% in the 3rd quarter. Twin Capital Management Inc. now owns 14,383 shares of the company’s stock worth $863,000 after acquiring an additional 4,108 shares in the last quarter. Finally, MML Investors Services LLC raised its position in shares of Toro by 76.5% in the 3rd quarter. MML Investors Services LLC now owns 29,657 shares of the company’s stock worth $1,779,000 after acquiring an additional 12,855 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

In related news, Director Christopher A. Twomey sold 19,292 shares of the business’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $60.03, for a total transaction of $1,158,098.76. Following the transaction, the director now directly owns 9,244 shares in the company, valued at approximately $554,917.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kurt D. Svendsen sold 6,180 shares of the business’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $60.55, for a total value of $374,199.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,240 shares of company stock worth $1,892,855. 5.69% of the stock is owned by company insiders.

TTC opened at $58.15 on Friday. The firm has a market capitalization of $6.27 billion, a PE ratio of 24.13 and a beta of 0.63. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.71 and a quick ratio of 0.99. Toro Co has a 12 month low of $53.80 and a 12 month high of $67.81.

Toro (NYSE:TTC) last announced its earnings results on Thursday, December 6th. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Toro had a return on equity of 46.89% and a net margin of 10.39%. The business had revenue of $539.30 million for the quarter, compared to analysts’ expectations of $516.60 million. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts expect that Toro Co will post 2.69 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 9th. Investors of record on Thursday, December 20th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.55%. This is an increase from Toro’s previous quarterly dividend of $0.20. Toro’s payout ratio is 33.20%.

Several research firms have recently commented on TTC. Zacks Investment Research raised Toro from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. ValuEngine raised Toro from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Dougherty & Co reissued a “buy” rating on shares of Toro in a research report on Monday, August 13th.

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About Toro

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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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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