King Luther Capital Management Corp lowered its stake in shares of Toro Company (The) (NYSE:TTC) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 367,060 shares of the company’s stock after selling 4,510 shares during the period. King Luther Capital Management Corp owned approximately 0.34% of Toro Company (The) worth $22,927,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in TTC. HighPoint Advisor Group LLC acquired a new stake in Toro Company (The) during the third quarter valued at approximately $500,000. Monroe Bank & Trust MI increased its stake in Toro Company (The) by 119.6% in the third quarter. Monroe Bank & Trust MI now owns 23,848 shares of the company’s stock valued at $1,142,000 after buying an additional 12,990 shares during the period. Russell Investments Group Ltd. acquired a new stake in Toro Company (The) during the fourth quarter valued at approximately $10,295,000. Elkfork Partners LLC bought a new stake in shares of Toro Company (The) during the fourth quarter valued at $1,415,000. Finally, Flinton Capital Management LLC bought a new stake in shares of Toro Company (The) during the fourth quarter valued at $666,000. 76.72% of the stock is currently owned by institutional investors and hedge funds.
Toro Company (TTC) traded down 0.75% on Tuesday, hitting $72.40. 602,301 shares of the company traded hands. Toro Company has a 1-year low of $41.49 and a 1-year high of $73.00. The firm has a market capitalization of $7.81 billion, a PE ratio of 32.21 and a beta of 0.52. The firm’s 50 day moving average price is $68.01 and its 200 day moving average price is $61.61.
Toro Company (The) (NYSE:TTC) last released its earnings results on Thursday, May 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.05. The company had revenue of $872.77 million for the quarter, compared to analysts’ expectations of $863.17 million. Toro Company (The) had a return on equity of 44.74% and a net margin of 10.23%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 EPS. Equities research analysts predict that Toro Company will post $2.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 23rd will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, June 21st. Toro Company (The)’s dividend payout ratio is currently 30.97%.
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Several brokerages have recently weighed in on TTC. Longbow Research upgraded Toro Company (The) from an “underperform” rating to a “neutral” rating in a research report on Monday, May 22nd. Cleveland Research upgraded Toro Company (The) from a “neutral” rating to a “buy” rating in a research report on Thursday, March 30th. Dougherty & Co reiterated a “buy” rating and set a $65.00 price target (up from $60.00) on shares of Toro Company (The) in a research report on Friday, February 24th. Finally, Zacks Investment Research cut Toro Company (The) from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $58.50.
In related news, VP Philip A. Burkart sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $62.73, for a total value of $1,254,600.00. Following the sale, the vice president now owns 187,391 shares of the company’s stock, valued at approximately $11,755,037.43. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Philip A. Burkart sold 9,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $61.50, for a total value of $608,850.00. Following the completion of the sale, the vice president now directly owns 177,291 shares in the company, valued at approximately $10,903,396.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,790 shares of company stock worth $5,043,840. Insiders own 5.69% of the company’s stock.
Toro Company (The) Company Profile
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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