Benjamin F. Edwards & Company Inc. Raises Stake in The Toro Company (NYSE:TTC)

Benjamin F. Edwards & Company Inc. increased its stake in shares of The Toro Company (NYSE:TTCGet Rating) by 266.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 344 shares of the company’s stock after purchasing an additional 250 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Toro were worth $30,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Dearborn Partners LLC grew its stake in Toro by 2.8% during the third quarter. Dearborn Partners LLC now owns 3,864 shares of the company’s stock valued at $334,000 after acquiring an additional 104 shares in the last quarter. Securian Asset Management Inc. raised its position in shares of Toro by 1.4% in the second quarter. Securian Asset Management Inc. now owns 9,530 shares of the company’s stock worth $722,000 after buying an additional 129 shares in the last quarter. CWM LLC raised its position in shares of Toro by 27.8% in the third quarter. CWM LLC now owns 602 shares of the company’s stock worth $52,000 after buying an additional 131 shares in the last quarter. Janiczek Wealth Management LLC raised its position in shares of Toro by 21.3% in the third quarter. Janiczek Wealth Management LLC now owns 836 shares of the company’s stock worth $79,000 after buying an additional 147 shares in the last quarter. Finally, SVB Wealth LLC raised its position in shares of Toro by 4.2% in the second quarter. SVB Wealth LLC now owns 3,665 shares of the company’s stock worth $278,000 after buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 85.14% of the company’s stock.

Toro Stock Performance

NYSE:TTC opened at $113.92 on Wednesday. The business has a 50 day moving average of $112.23 and a 200 day moving average of $97.40. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 27.06 and a beta of 0.74. The Toro Company has a 1-year low of $71.86 and a 1-year high of $117.66. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.58 and a quick ratio of 0.59.

Toro (NYSE:TTCGet Rating) last released its earnings results on Wednesday, December 21st. The company reported $1.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.11. Toro had a return on equity of 35.67% and a net margin of 9.82%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $0.56 EPS. Toro’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, sell-side analysts predict that The Toro Company will post 4.95 earnings per share for the current fiscal year.

Toro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 11th. Investors of record on Wednesday, December 28th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, December 27th. This represents a $1.36 annualized dividend and a dividend yield of 1.19%. This is a positive change from Toro’s previous quarterly dividend of $0.30. Toro’s dividend payout ratio (DPR) is currently 32.30%.

Insider Activity

In other news, VP Peter D. Moeller sold 430 shares of the business’s stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $116.62, for a total value of $50,146.60. Following the completion of the sale, the vice president now owns 4,204 shares of the company’s stock, valued at approximately $490,270.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Peter D. Moeller sold 430 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $116.62, for a total value of $50,146.60. Following the transaction, the vice president now owns 4,204 shares in the company, valued at $490,270.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Renee J. Peterson sold 25,000 shares of the company’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $112.72, for a total transaction of $2,818,000.00. Following the transaction, the chief financial officer now directly owns 15,318 shares of the company’s stock, valued at $1,726,644.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,733 shares of company stock valued at $4,492,359. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

TTC has been the topic of several research analyst reports. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Friday, January 13th. Robert W. Baird lowered their price objective on shares of Toro from $120.00 to $116.00 in a research report on Thursday, December 22nd. Finally, Raymond James upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $130.00 target price for the company in a research report on Friday, December 23rd.

About Toro

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The Toro Company provides innovative solutions for the outdoor environment worldwide. It operates through two segments Professional and Residential. 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, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, including snowplows; as well as stand-on snow and ice removal equipment, such as the related snowplow, snow brush, and snow thrower attachments, 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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