The Toro Company (NYSE:TTC) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in The Toro Company (NYSE:TTCGet Rating) by 20.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,898 shares of the company’s stock after selling 48,624 shares during the period. First Trust Advisors LP owned about 0.18% of Toro worth $15,990,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP grew its stake in shares of Toro by 90.4% in the third quarter. Allworth Financial LP now owns 316 shares of the company’s stock worth $27,000 after acquiring an additional 150 shares in the last quarter. Coston McIsaac & Partners acquired a new position in shares of Toro during the second quarter worth $26,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Toro by 266.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 344 shares of the company’s stock worth $30,000 after purchasing an additional 250 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Toro by 78.1% during the third quarter. IFP Advisors Inc now owns 495 shares of the company’s stock worth $35,000 after purchasing an additional 217 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Toro by 1,195.3% during the third quarter. EverSource Wealth Advisors LLC now owns 557 shares of the company’s stock worth $48,000 after purchasing an additional 514 shares in the last quarter. Institutional investors and hedge funds own 85.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on TTC shares. Robert W. Baird lowered their target price on shares of Toro from $120.00 to $116.00 in a research note on Thursday, December 22nd. 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 note on Friday, December 23rd. Finally, StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Tuesday.

Insider Activity

In other news, VP Blake M. Grams sold 6,199 shares of the company’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $114.01, for a total value of $706,747.99. Following the completion of the sale, the vice president now directly owns 36,998 shares of the company’s stock, valued at $4,218,141.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Blake M. Grams sold 6,199 shares of the company’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $114.01, for a total value of $706,747.99. Following the completion of the sale, the vice president now directly owns 36,998 shares of the company’s stock, valued at $4,218,141.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Peter D. Moeller sold 430 shares of the company’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $116.62, for a total transaction of $50,146.60. Following the completion of the sale, the vice president now directly owns 4,204 shares of the company’s stock, valued at $490,270.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,733 shares of company stock valued at $4,492,359. Insiders own 2.22% of the company’s stock.

Toro Stock Performance

NYSE TTC opened at $109.29 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.78 and a quick ratio of 0.59. The Toro Company has a 1 year low of $71.86 and a 1 year high of $117.66. The company has a market capitalization of $11.44 billion, a PE ratio of 23.97 and a beta of 0.73. The company has a fifty day moving average of $112.27 and a two-hundred day moving average of $104.42.

Toro (NYSE:TTCGet Rating) last released its quarterly earnings data on Thursday, March 9th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.07. Toro had a net margin of 10.16% and a return on equity of 36.04%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Toro’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts expect that The Toro Company will post 4.8 earnings per share for the current year.

Toro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 11th. Stockholders of record on Wednesday, December 28th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Toro’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 27th. Toro’s dividend payout ratio is presently 29.82%.

About Toro

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The Toro Co is in the business of designing, manufacturing, marketing, and selling professional turf maintenance equipment and services. It operates through the following segments: Professional and Residential. The Professional segment consists of turf and landscape equipment, rental, specialty, and underground construction equipment, snow & ice management equipment, and irrigation and lighting products.

Further Reading

Institutional Ownership by Quarter for Toro (NYSE:TTC)

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