Meeder Asset Management Inc. Sells 263 Shares of The Toro Company (NYSE:TTC)

Meeder Asset Management Inc. reduced its position in The Toro Company (NYSE:TTCGet Rating) by 41.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 375 shares of the company’s stock after selling 263 shares during the quarter. Meeder Asset Management Inc.’s holdings in Toro were worth $28,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Castle Wealth Management LLC bought a new position in shares of Toro during the second quarter valued at about $27,000. Venture Visionary Partners LLC purchased a new stake in Toro during the 2nd quarter valued at about $49,000. Janiczek Wealth Management LLC increased its stake in Toro by 625.3% in the 2nd quarter. Janiczek Wealth Management LLC now owns 689 shares of the company’s stock worth $59,000 after purchasing an additional 594 shares during the period. Quent Capital LLC increased its stake in Toro by 72.5% in the 1st quarter. Quent Capital LLC now owns 1,083 shares of the company’s stock worth $93,000 after purchasing an additional 455 shares during the period. Finally, Ellevest Inc. lifted its position in Toro by 97.3% in the second quarter. Ellevest Inc. now owns 1,472 shares of the company’s stock valued at $112,000 after purchasing an additional 726 shares during the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Toro Price Performance

TTC opened at $110.11 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.66 and a current ratio of 1.59. The stock has a market capitalization of $11.47 billion, a PE ratio of 30.17 and a beta of 0.76. The stock’s 50 day moving average price is $95.60 and its 200-day moving average price is $86.76. The Toro Company has a 52-week low of $71.86 and a 52-week high of $113.37.

Toro (NYSE:TTCGet Rating) last released its quarterly earnings results on Thursday, September 1st. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.06. Toro had a net margin of 8.97% and a return on equity of 32.35%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts predict that The Toro Company will post 4.2 EPS for the current year.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 18th. Shareholders of record on Wednesday, October 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 4th. This represents a $1.20 annualized dividend and a yield of 1.09%. Toro’s dividend payout ratio (DPR) is presently 32.88%.

Insider Transactions at Toro

In other news, VP Kurt D. Svendsen sold 4,000 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $87.34, for a total value of $349,360.00. Following the sale, the vice president now directly owns 10,575 shares of the company’s stock, valued at $923,620.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Kurt D. Svendsen sold 4,000 shares of Toro stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $87.34, for a total value of $349,360.00. Following the completion of the sale, the vice president now directly owns 10,575 shares in the company, valued at approximately $923,620.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Amy E. Dahl sold 2,600 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $89.81, for a total transaction of $233,506.00. Following the sale, the vice president now directly owns 18,706 shares in the company, valued at approximately $1,679,985.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,371 shares of company stock valued at $2,014,232. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

TTC has been the topic of several analyst reports. Northcoast Research raised shares of Toro from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 6th. StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a research note on Thursday, October 27th.

Toro Company Profile

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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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