2,959 Shares in The Toro Company (NYSE:TTC) Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV acquired a new stake in shares of The Toro Company (NYSE:TTC – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,959 shares of the company’s stock, valued at approximately $335,000.

A number of other hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its position in Toro by 294.6% during the fourth quarter. Lindbrook Capital LLC now owns 292 shares of the company’s stock worth $33,000 after purchasing an additional 218 shares during the period. IFP Advisors Inc raised its stake in Toro by 78.1% during the third quarter. IFP Advisors Inc now owns 495 shares of the company’s stock worth $35,000 after acquiring an additional 217 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Toro by 255.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 355 shares of the company’s stock valued at $40,000 after buying an additional 255 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in Toro in the fourth quarter worth about $42,000. Finally, Neo Ivy Capital Management acquired a new stake in Toro in the second quarter worth about $42,000. 85.14% of the stock is owned by hedge funds and other institutional investors.

Toro Stock Performance

TTC opened at $102.93 on Thursday. The business has a fifty day simple moving average of $105.53 and a 200 day simple moving average of $109.60. The company has a market capitalization of $10.73 billion, a PE ratio of 22.57 and a beta of 0.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.78 and a quick ratio of 0.63. The Toro Company has a 1 year low of $71.86 and a 1 year high of $117.66.

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

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Wednesday, June 21st will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.32%. Toro’s dividend payout ratio is currently 29.82%.

Insider Buying and Selling

In other Toro news, VP Daryn A. Walters bought 910 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The shares were bought at an average price of $110.05 per share, for a total transaction of $100,145.50. Following the transaction, the vice president now directly owns 1,740 shares in the company, valued at $191,487. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Toro news, VP Daryn A. Walters purchased 910 shares of the firm’s stock in a transaction that occurred on Thursday, March 30th. The stock was bought at an average cost of $110.05 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory S. Janey sold 1,630 shares of Toro stock in a transaction on Friday, March 24th. The shares were sold at an average price of $107.76, for a total value of $175,648.80. Following the completion of the transaction, the vice president now owns 2,708 shares of the company’s stock, valued at $291,814.08. The disclosure for this sale can be found here. Insiders sold a total of 59,634 shares of company stock worth $6,516,758 in the last ninety days. 2.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on TTC. CL King began coverage on Toro in a report on Friday, May 19th. They set a “buy” rating and a $133.00 target price on the stock. Northland Securities began coverage on Toro in a report on Monday, April 17th. They set a “market perform” rating and a $110.00 target price on the stock. Finally, StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Toro currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.25.

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.