WESPAC Advisors SoCal LLC lifted its stake in Toro Co (NYSE:TTC) by 23.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the company’s stock after purchasing an additional 2,250 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Toro were worth $880,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Toro by 3.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,028 shares of the company’s stock worth $470,000 after purchasing an additional 218 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Toro in the 2nd quarter worth $782,000. Retirement Systems of Alabama increased its stake in Toro by 1.4% in the 2nd quarter. Retirement Systems of Alabama now owns 252,386 shares of the company’s stock worth $16,885,000 after buying an additional 3,484 shares in the last quarter. Janus Henderson Group PLC increased its stake in Toro by 99.3% in the 2nd quarter. Janus Henderson Group PLC now owns 17,545 shares of the company’s stock worth $1,174,000 after buying an additional 8,742 shares in the last quarter. Finally, Dorsey Wright & Associates purchased a new stake in Toro in the 2nd quarter worth $3,208,000. Hedge funds and other institutional investors own 82.30% of the company’s stock.
A number of brokerages have issued reports on TTC. ValuEngine lowered Toro from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Dougherty & Co began coverage on Toro in a research note on Wednesday, August 28th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research lowered Toro from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, Toro currently has a consensus rating of “Hold” and an average price target of $71.00.
TTC stock traded up $0.80 during trading on Thursday, reaching $73.94. The company’s stock had a trading volume of 5,621 shares, compared to its average volume of 442,546. Toro Co has a 1 year low of $52.97 and a 1 year high of $75.27. The company has a quick ratio of 0.67, a current ratio of 1.49 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $7.73 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 2.45 and a beta of 0.79. The company’s fifty day moving average is $72.89 and its 200-day moving average is $70.92.
Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.10. Toro had a return on equity of 40.52% and a net margin of 9.34%. The business had revenue of $838.71 million during the quarter, compared to analyst estimates of $876.33 million. During the same quarter in the prior year, the business posted $0.68 EPS. Toro’s revenue for the quarter was up 27.9% compared to the same quarter last year. Analysts anticipate that Toro Co will post 2.96 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.22%. Toro’s payout ratio is 33.71%.
In other news, VP Kurt D. Svendsen sold 7,740 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $73.52, for a total transaction of $569,044.80. Following the completion of the transaction, the vice president now owns 13,498 shares in the company, valued at $992,372.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Renee J. Peterson sold 78,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.05, for a total value of $5,775,900.00. Following the transaction, the chief financial officer now owns 9,682 shares of the company’s stock, valued at approximately $716,952.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,420 shares of company stock valued at $6,825,905. Company insiders own 2.36% of the company’s stock.
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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