Raymond James Financial Services Advisors Inc. grew its position in The Toro Company (NYSE:TTC – Get Rating) by 23.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,986 shares of the company’s stock after purchasing an additional 4,325 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Toro were worth $2,602,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC acquired a new position in shares of Toro in the fourth quarter valued at about $42,000. UBS Group AG grew its holdings in Toro by 93.6% in the fourth quarter. UBS Group AG now owns 52,963 shares of the company’s stock valued at $5,995,000 after purchasing an additional 25,604 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Toro by 5.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,944 shares of the company’s stock valued at $1,012,000 after purchasing an additional 446 shares during the period. California Public Employees Retirement System lifted its position in shares of Toro by 14.2% in the fourth quarter. California Public Employees Retirement System now owns 261,820 shares of the company’s stock valued at $29,638,000 after acquiring an additional 32,493 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Toro by 1.9% in the fourth quarter. Swiss National Bank now owns 252,500 shares of the company’s stock valued at $28,583,000 after acquiring an additional 4,600 shares in the last quarter. 85.14% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
TTC has been the topic of several research reports. CL King initiated coverage on Toro in a research report on Friday. They issued a “buy” rating and a $133.00 target price on the stock. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Finally, Northland Securities began coverage on Toro in a research report on Monday, April 17th. They set a “market perform” rating and a $110.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Toro has an average rating of “Moderate Buy” and a consensus target price of $122.25.
Toro Price Performance
Toro (NYSE:TTC – Get Rating) last posted its earnings results on Thursday, March 9th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Toro had a return on equity of 36.04% and a net margin of 10.16%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, research analysts anticipate that The Toro Company will post 4.83 earnings per share for the current year.
Toro Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 19th. Stockholders of record on Thursday, April 6th were paid a $0.34 dividend. The ex-dividend date was Wednesday, April 5th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.29%. Toro’s payout ratio is presently 29.82%.
In other news, VP Daryn A. Walters acquired 910 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was acquired at an average cost of $110.05 per share, with a total value of $100,145.50. Following the completion of the purchase, the vice president now owns 1,740 shares of the company’s stock, valued at approximately $191,487. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Renee J. Peterson sold 26,500 shares of the stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $110.09, for a total value of $2,917,385.00. Following the transaction, the vice president now owns 15,318 shares in the company, valued at approximately $1,686,358.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Daryn A. Walters purchased 910 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The shares were purchased at an average price of $110.05 per share, for a total transaction of $100,145.50. Following the purchase, the vice president now directly owns 1,740 shares in the company, valued at $191,487. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 59,634 shares of company stock valued at $6,516,758. 2.22% of the stock is currently owned by corporate insiders.
Toro Company Profile
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.
- Get a free copy of the StockNews.com research report on Toro (TTC)
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