Stonebridge Capital Advisors LLC decreased its stake in shares of The Toro Company (NYSE:TTC – Get Rating) by 1.6% during the fourth quarter, Holdings Channel reports. The firm owned 8,422 shares of the company’s stock after selling 134 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in Toro were worth $841,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its position in Toro by 9.5% during the fourth quarter. Victory Capital Management Inc. now owns 3,108,279 shares of the company’s stock valued at $310,549,000 after purchasing an additional 269,779 shares during the period. State Street Corp increased its holdings in Toro by 0.9% during the fourth quarter. State Street Corp now owns 2,786,397 shares of the company’s stock valued at $279,220,000 after buying an additional 24,994 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Toro by 2.1% during the fourth quarter. Champlain Investment Partners LLC now owns 2,643,340 shares of the company’s stock valued at $264,096,000 after buying an additional 53,444 shares during the last quarter. Invesco Ltd. increased its holdings in Toro by 25.5% during the third quarter. Invesco Ltd. now owns 1,471,236 shares of the company’s stock valued at $143,313,000 after buying an additional 299,386 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Toro by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,460,449 shares of the company’s stock valued at $145,913,000 after buying an additional 12,915 shares during the last quarter. Institutional investors own 82.56% of the company’s stock.
A number of analysts have commented on the stock. Zacks Investment Research cut shares of Toro from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Robert W. Baird reduced their target price on shares of Toro from $120.00 to $110.00 in a report on Monday, February 28th. Finally, StockNews.com initiated coverage on shares of Toro in a report on Thursday, March 31st. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $95.67.
Toro (NYSE:TTC – Get Rating) last announced its quarterly earnings data on Thursday, March 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $932.70 million during the quarter, compared to analysts’ expectations of $972.07 million. Toro had a net margin of 9.16% and a return on equity of 31.17%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 earnings per share. On average, research analysts expect that The Toro Company will post 4.04 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 13th. Investors of record on Wednesday, June 22nd will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 21st. This represents a $1.20 annualized dividend and a yield of 1.45%. Toro’s payout ratio is 35.09%.
In other Toro news, VP Richard W. Rodier sold 3,600 shares of the stock in a transaction on Friday, March 25th. The shares were sold at an average price of $85.95, for a total transaction of $309,420.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.
About Toro (Get Rating)
The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. The company's 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; and snow and ice management equipment, such as snowplows, brush, snow thrower attachment, 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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