Cambridge Investment Research Advisors Inc. Has $1.01 Million Holdings in The Toro Company (NYSE:TTC)

Cambridge Investment Research Advisors Inc. grew its stake in The Toro Company (NYSE:TTC – Get Rating) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,944 shares of the company’s stock after buying an additional 446 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Toro were worth $1,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TTC. Oregon Public Employees Retirement Fund boosted its holdings in Toro by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,580 shares of the company’s stock worth $3,462,000 after purchasing an additional 91 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Toro by 0.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 12,892 shares of the company’s stock worth $1,115,000 after purchasing an additional 93 shares during the last quarter. IFP Advisors Inc boosted its holdings in Toro by 20.0% during the fourth quarter. IFP Advisors Inc now owns 594 shares of the company’s stock worth $40,000 after purchasing an additional 99 shares during the last quarter. Utah Retirement Systems boosted its holdings in Toro by 0.5% during the third quarter. Utah Retirement Systems now owns 18,638 shares of the company’s stock worth $1,612,000 after purchasing an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in Toro by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 27,900 shares of the company’s stock worth $3,158,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 85.14% of the company’s stock.

Analyst Upgrades and Downgrades

TTC has been the subject of a number of recent analyst reports. CL King initiated coverage on shares of Toro in a research note on Friday. They issued a “buy” rating and a $133.00 price target for the company. Northland Securities initiated coverage on shares of Toro in a research note on Monday, April 17th. They issued a “market perform” rating and a $110.00 price target for the company. Finally, StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.25.

Toro Price Performance

Shares of TTC opened at $105.24 on Friday. The firm has a market capitalization of $10.98 billion, a PE ratio of 23.08 and a beta of 0.72. The company’s 50-day moving average is $105.79 and its 200-day moving average is $109.59. The Toro Company has a fifty-two week low of $71.86 and a fifty-two week high of $117.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.78 and a quick ratio of 0.63.

Toro (NYSE:TTC – Get Rating) last issued its quarterly earnings data on Thursday, March 9th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Toro had a net margin of 10.16% and a return on equity of 36.04%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. Equities analysts forecast that The Toro Company will post 4.83 EPS for the current year.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 19th. Stockholders of record on Thursday, April 6th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, April 5th. Toro’s payout ratio is presently 29.82%.

Insider Activity

In related news, CEO Richard M. Olson sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $109.40, for a total transaction of $1,312,800.00. Following the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at $1,959,682.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Richard M. Olson sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $109.40, for a total transaction of $1,312,800.00. Following the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at $1,959,682.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Daryn A. Walters purchased 910 shares of the stock in a transaction that occurred on Thursday, March 30th. The shares were acquired at an average cost of $110.05 per share, for a total transaction of $100,145.50. Following the completion of the transaction, the vice president now owns 1,740 shares of the company’s stock, valued at approximately $191,487. The disclosure for this purchase can be found here. Insiders have sold 59,634 shares of company stock valued at $6,516,758 over the last ninety days. 2.22% of the stock is currently owned by company insiders.

Toro Profile

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The Toro Co is in the business of designing, manufacturing, marketing, and selling professional turf maintenance equipment and services. It operates through the following segments: Professional and Residential. The Professional segment consists of turf and landscape equipment, rental, specialty, and underground construction equipment, snow & ice management equipment, and irrigation and lighting products.