State of New Jersey Common Pension Fund D Acquires 4,411 Shares of The Toro Company (NYSE:TTC)

State of New Jersey Common Pension Fund D boosted its position in The Toro Company (NYSE:TTC) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,877 shares of the company’s stock after acquiring an additional 4,411 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Toro worth $5,748,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Fortitude Family Office LLC purchased a new position in Toro during the fourth quarter worth about $26,000. VisionPoint Advisory Group LLC increased its position in shares of Toro by 135.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock valued at $25,000 after purchasing an additional 174 shares during the last quarter. Orion Capital Management LLC purchased a new stake in Toro in the 3rd quarter worth approximately $25,000. Millburn Ridgefield Corp purchased a new stake in Toro during the 3rd quarter valued at approximately $30,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Toro during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TTC. StockNews.com lowered Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. DA Davidson boosted their price target on Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Finally, TheStreet upgraded Toro from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $105.60.

Insider Activity

In other Toro news, Director Gary Lee Ellis sold 5,192 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the sale, the director now owns 33,051 shares of the company’s stock, valued at $2,933,276.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Toro news, Director Gary Lee Ellis sold 5,192 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the transaction, the director now directly owns 33,051 shares in the company, valued at $2,933,276.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Edric C. Funk sold 615 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $89.57, for a total value of $55,085.55. Following the completion of the sale, the vice president now owns 1,049 shares of the company’s stock, valued at $93,958.93. The disclosure for this sale can be found here. 1.62% of the stock is owned by corporate insiders.

Toro Trading Up 0.9 %

TTC stock traded up $0.80 during midday trading on Friday, reaching $87.52. 419,610 shares of the company’s stock traded hands, compared to its average volume of 720,515. The company has a market capitalization of $9.14 billion, a P/E ratio of 31.65 and a beta of 0.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 0.86. The Toro Company has a fifty-two week low of $78.35 and a fifty-two week high of $108.50. The business has a 50-day moving average price of $89.44 and a two-hundred day moving average price of $88.92.

Toro (NYSE:TTC) last released its earnings results on Thursday, March 7th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. Toro had a net margin of 6.53% and a return on equity of 26.66%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Equities research analysts forecast that The Toro Company will post 4.3 EPS for the current fiscal year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.65%. Toro’s dividend payout ratio is 52.55%.

Toro Company Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.