Raymond James Financial Services Advisors Inc. lowered its position in The Toro Company (NYSE:TTC – Get Rating) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,661 shares of the company’s stock after selling 209 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Toro were worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC increased its stake in shares of Toro by 1,983.0% in the second quarter. Millennium Management LLC now owns 462,994 shares of the company’s stock valued at $35,090,000 after buying an additional 440,767 shares during the period. Commerce Bank increased its position in Toro by 3.1% during the 2nd quarter. Commerce Bank now owns 49,104 shares of the company’s stock valued at $3,722,000 after purchasing an additional 1,480 shares during the period. Vestmark Advisory Solutions Inc. increased its position in Toro by 26.9% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 22,553 shares of the company’s stock valued at $1,709,000 after purchasing an additional 4,782 shares during the period. Values First Advisors Inc. increased its position in Toro by 28.0% during the 2nd quarter. Values First Advisors Inc. now owns 21,576 shares of the company’s stock valued at $1,636,000 after purchasing an additional 4,714 shares during the period. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in Toro during the 2nd quarter valued at approximately $13,869,000. Institutional investors and hedge funds own 85.14% of the company’s stock.
Insider Buying and Selling
In other Toro news, VP Richard W. Rodier sold 3,000 shares of the firm’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $112.72, for a total transaction of $338,160.00. Following the transaction, the vice president now directly owns 23,737 shares in the company, valued at approximately $2,675,634.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Toro news, CFO Renee J. Peterson sold 25,000 shares of the firm’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $112.72, for a total transaction of $2,818,000.00. Following the transaction, the chief financial officer now directly owns 15,318 shares in the company, valued at approximately $1,726,644.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard W. Rodier sold 3,000 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $112.72, for a total value of $338,160.00. Following the sale, the vice president now directly owns 23,737 shares of the company’s stock, valued at $2,675,634.64. The disclosure for this sale can be found here. Insiders have sold a total of 39,733 shares of company stock worth $4,492,359 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.
Analysts Set New Price Targets
Toro Price Performance
Toro stock opened at $112.98 on Thursday. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 26.84 and a beta of 0.74. The Toro Company has a 52-week low of $71.86 and a 52-week high of $117.66. The stock’s 50 day moving average price is $112.31 and its two-hundred day moving average price is $97.51. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.59 and a current ratio of 1.58.
Toro (NYSE:TTC – Get Rating) last posted its quarterly earnings results on Wednesday, December 21st. The company reported $1.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.11. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Toro had a return on equity of 35.67% and a net margin of 9.82%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. On average, equities analysts predict that The Toro Company will post 4.95 earnings per share for the current year.
Toro Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 11th. Investors of record on Wednesday, December 28th were issued a $0.34 dividend. This is a boost from Toro’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Tuesday, December 27th. Toro’s dividend payout ratio (DPR) is currently 32.30%.
Toro Company Profile
The Toro Company provides innovative solutions for the outdoor environment worldwide. It operates through two segments Professional and Residential. 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, 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, including snowplows; as well as stand-on snow and ice removal equipment, such as the related 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.
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