Mission Wealth Management LP cut its holdings in shares of Toro Co (NYSE:TTC) by 11.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,612 shares of the company’s stock after selling 1,000 shares during the period. Mission Wealth Management LP’s holdings in Toro were worth $524,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Rockefeller Capital Management L.P. bought a new stake in Toro during the 1st quarter worth about $25,000. Trustcore Financial Services LLC bought a new stake in Toro during the 1st quarter worth about $34,000. Riverview Trust Co bought a new stake in Toro during the 4th quarter worth about $35,000. Oregon Public Employees Retirement Fund lifted its position in Toro by 5,488.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,329,525 shares of the company’s stock worth $42,000 after buying an additional 2,287,837 shares in the last quarter. Finally, Liberty Wealth Management LLC bought a new stake in Toro during the 4th quarter worth about $49,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on TTC. Zacks Investment Research cut shares of Toro from a “hold” rating to a “sell” rating in a research report on Tuesday. Sidoti set a $72.00 price target on shares of Toro and gave the stock a “hold” rating in a research report on Tuesday. Finally, ValuEngine raised shares of Toro from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $69.00.
Shares of TTC stock traded down $0.28 on Friday, reaching $68.09. The stock had a trading volume of 232,120 shares, compared to its average volume of 472,930. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 1.51. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 25.50 and a beta of 0.84. Toro Co has a 12 month low of $52.97 and a 12 month high of $75.13.
Toro (NYSE:TTC) last issued its earnings results on Thursday, May 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.04). The firm had revenue of $962.00 million during the quarter, compared to the consensus estimate of $987.80 million. Toro had a net margin of 10.62% and a return on equity of 40.99%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 earnings per share. Sell-side analysts predict that Toro Co will post 2.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Tuesday, June 25th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. Toro’s payout ratio is 33.71%.
In other Toro news, Director Robert C. Buhrmaster sold 2,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $67.95, for a total value of $135,900.00. Following the transaction, the director now directly owns 21,091 shares of the company’s stock, valued at approximately $1,433,133.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard W. Rodier sold 6,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $68.45, for a total transaction of $410,700.00. Following the completion of the transaction, the vice president now directly owns 28,395 shares in the company, valued at $1,943,637.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,941 shares of company stock worth $679,190. 2.36% of the stock is owned by insiders.
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Toro Company Profile
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, 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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