Steward Partners Investment Advisory LLC Cuts Stock Position in The Toro Company (NYSE:TTC)

Steward Partners Investment Advisory LLC lessened its stake in The Toro Company (NYSE:TTCGet Rating) by 20.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 646 shares of the company’s stock after selling 168 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Toro were worth $55,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TTC. Sageworth Trust Co of South Dakota purchased a new stake in Toro in the 4th quarter worth $30,000. Quadrant Capital Group LLC grew its holdings in shares of Toro by 58.0% during the fourth quarter. Quadrant Capital Group LLC now owns 316 shares of the company’s stock worth $32,000 after buying an additional 116 shares in the last quarter. City State Bank purchased a new stake in shares of Toro during the fourth quarter worth $33,000. Tobam grew its holdings in shares of Toro by 44.1% during the first quarter. Tobam now owns 523 shares of the company’s stock worth $45,000 after buying an additional 160 shares in the last quarter. Finally, CWM LLC purchased a new stake in shares of Toro during the fourth quarter worth $47,000. Hedge funds and other institutional investors own 82.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TTC. Robert W. Baird dropped their target price on shares of Toro from $108.00 to $94.00 and set a “neutral” rating for the company in a report on Tuesday, May 31st. StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a report on Saturday, July 16th.

Insider Buying and Selling at Toro

In other Toro news, Director Janet Katherine Cooper sold 5,192 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $86.58, for a total value of $449,523.36. Following the transaction, the director now owns 717 shares of the company’s stock, valued at $62,077.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Toro news, Director Janet Katherine Cooper sold 5,192 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $86.58, for a total value of $449,523.36. Following the transaction, the director now owns 717 shares of the company’s stock, valued at $62,077.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard W. Rodier sold 4,000 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $79.30, for a total transaction of $317,200.00. Following the completion of the transaction, the vice president now directly owns 23,696 shares in the company, valued at approximately $1,879,092.80. The disclosure for this sale can be found here. Insiders have sold 23,462 shares of company stock valued at $1,856,537 over the last 90 days. 2.10% of the stock is owned by insiders.

Toro Trading Up 0.7 %

Shares of TTC opened at $86.28 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The Toro Company has a 12-month low of $71.86 and a 12-month high of $115.68. The firm has a 50-day moving average price of $80.68 and a 200 day moving average price of $85.40. The firm has a market capitalization of $9.02 billion, a P/E ratio of 25.76 and a beta of 0.77.

Toro (NYSE:TTCGet Rating) last announced its quarterly earnings data on Thursday, June 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). Toro had a net margin of 8.67% and a return on equity of 30.52%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the company posted $1.29 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that The Toro Company will post 4.1 EPS for the current year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 13th. Shareholders of record on Wednesday, June 22nd were given a $0.30 dividend. The ex-dividend date was Tuesday, June 21st. This represents a $1.20 dividend on an annualized basis and a yield of 1.39%. Toro’s payout ratio is currently 35.82%.

Toro Company Profile

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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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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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