Steward Partners Investment Advisory LLC Cuts Position in The Toro Company (NYSE:TTC)

Steward Partners Investment Advisory LLC reduced its stake in The Toro Company (NYSE:TTCGet Rating) by 20.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 646 shares of the company’s stock after selling 168 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Toro were worth $55,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Toro by 21.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,985 shares of the company’s stock worth $898,000 after purchasing an additional 1,604 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Toro during the 4th quarter worth about $24,746,000. Commonwealth Equity Services LLC grew its holdings in Toro by 1.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 16,592 shares of the company’s stock valued at $1,657,000 after buying an additional 248 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of Toro by 6.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 54,733 shares of the company’s stock valued at $5,468,000 after purchasing an additional 3,138 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of Toro by 19.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 15,243 shares of the company’s stock valued at $1,523,000 after purchasing an additional 2,478 shares in the last quarter. 82.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TTC has been the topic of several research analyst reports. StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a research note on Saturday, July 16th. Robert W. Baird reduced their price target on Toro from $108.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st.

Toro Stock Performance

Shares of TTC opened at $86.28 on Thursday. The business’s 50 day moving average is $80.68 and its two-hundred day moving average is $85.40. The Toro Company has a 52-week low of $71.86 and a 52-week high of $115.68. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 25.76 and a beta of 0.77. The company has a quick ratio of 0.70, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.

Toro (NYSE:TTCGet Rating) last announced its earnings results on Thursday, June 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). Toro had a net margin of 8.67% and a return on equity of 30.52%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts forecast that The Toro Company will post 4.1 EPS for the current fiscal year.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 13th. Stockholders of record on Wednesday, June 22nd were issued a $0.30 dividend. The ex-dividend date was Tuesday, June 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.39%. Toro’s dividend payout ratio (DPR) is 35.82%.

Insider Activity

In other news, VP Daryn A. Walters sold 1,670 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $76.68, for a total value of $128,055.60. Following the completion of the sale, the vice president now directly owns 1,415 shares in the company, valued at approximately $108,502.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Richard M. Olson sold 12,600 shares of the company’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $76.33, for a total transaction of $961,758.00. Following the completion of the transaction, the chief executive officer now directly owns 9,575 shares in the company, valued at approximately $730,859.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $128,055.60. Following the transaction, the vice president now owns 1,415 shares of the company’s stock, valued at $108,502.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,462 shares of company stock worth $1,856,537. 2.10% of the stock is currently owned by insiders.

About Toro

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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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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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