Verition Fund Management LLC increased its position in The Toro Company (NYSE:TTC – Get Rating) by 125.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 11,875 shares of the company’s stock after purchasing an additional 6,607 shares during the period. Verition Fund Management LLC’s holdings in Toro were worth $1,015,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. City State Bank purchased a new stake in Toro in the fourth quarter worth $33,000. Tobam grew its stake in Toro by 44.1% in the first quarter. Tobam now owns 523 shares of the company’s stock worth $45,000 after purchasing an additional 160 shares during the period. Quent Capital LLC purchased a new stake in Toro in the fourth quarter worth $63,000. Meeder Asset Management Inc. purchased a new stake in Toro in the first quarter worth $55,000. Finally, CWM LLC grew its stake in Toro by 47.2% in the first quarter. CWM LLC now owns 695 shares of the company’s stock worth $59,000 after purchasing an additional 223 shares during the period. 85.24% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Daryn A. Walters sold 1,670 shares of the company’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $76.68, for a total transaction of $128,055.60. Following the transaction, the vice president now directly owns 1,415 shares of the company’s stock, valued at $108,502.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Richard W. Rodier sold 4,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $91.43, for a total transaction of $365,720.00. Following the transaction, the vice president now directly owns 22,326 shares of the company’s stock, valued at $2,041,266.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Daryn A. Walters sold 1,670 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $76.68, for a total value of $128,055.60. Following the completion of the transaction, the vice president now directly owns 1,415 shares in the company, valued at approximately $108,502.20. The disclosure for this sale can be found here. Insiders have sold a total of 30,861 shares of company stock valued at $2,598,046 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.
Toro Trading Down 0.8 %
NYSE TTC opened at $90.02 on Wednesday. The Toro Company has a 12 month low of $71.86 and a 12 month high of $106.31. The stock has a market cap of $9.38 billion, a P/E ratio of 24.66 and a beta of 0.76. The stock’s fifty day moving average price is $86.32 and its 200-day moving average price is $83.33. The company has a current ratio of 1.59, a quick ratio of 0.66 and a debt-to-equity ratio of 0.77.
Toro (NYSE:TTC – Get Rating) last announced its quarterly earnings results on Thursday, September 1st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Toro had a return on equity of 32.35% and a net margin of 8.97%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. As a group, equities analysts forecast that The Toro Company will post 4.2 EPS for the current fiscal year.
Toro Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.33%. Toro’s payout ratio is currently 32.88%.
Analysts Set New Price Targets
TTC has been the topic of a number of recent research reports. Robert W. Baird cut their target price on Toro from $108.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 31st. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a research note on Friday, September 16th. Finally, Northcoast Research raised Toro from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 6th.
The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. 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; and snow and ice management equipment, such as snowplows, brush, snow thrower attachment, 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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