CI Investments Inc. Sells 180 Shares of The Toro Company (NYSE:TTC)

CI Investments Inc. lessened its holdings in The Toro Company (NYSE:TTC – Get Rating) by 13.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,161 shares of the company’s stock after selling 180 shares during the quarter. CI Investments Inc.’s holdings in Toro were worth $131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of TTC. Bank of Montreal Can grew its position in Toro by 1.2% in the 1st quarter. Bank of Montreal Can now owns 49,173 shares of the company’s stock valued at $4,262,000 after acquiring an additional 563 shares during the last quarter. APG Asset Management N.V. grew its position in shares of Toro by 37.2% during the 1st quarter. APG Asset Management N.V. now owns 15,500 shares of the company’s stock worth $1,191,000 after buying an additional 4,200 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of Toro by 7.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 60,366 shares of the company’s stock worth $5,309,000 after buying an additional 4,269 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Toro by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 883,779 shares of the company’s stock worth $75,558,000 after buying an additional 23,223 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of Toro by 9.2% during the 1st quarter. Baird Financial Group Inc. now owns 37,193 shares of the company’s stock worth $3,180,000 after buying an additional 3,144 shares in the last quarter. Institutional investors own 85.14% of the company’s stock.

Toro Trading Down 1.7 %

Shares of NYSE TTC opened at $102.93 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.78 and a quick ratio of 0.63. The stock has a market capitalization of $10.73 billion, a P/E ratio of 22.57 and a beta of 0.72. The Toro Company has a 1-year low of $71.86 and a 1-year high of $117.66. The business has a fifty day moving average price of $105.53 and a 200 day moving average price of $109.60.

Toro (NYSE:TTC – Get Rating) last released its quarterly earnings results on Thursday, March 9th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.07. Toro had a return on equity of 36.04% and a net margin of 10.16%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business posted $0.66 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. Equities research analysts expect that The Toro Company will post 4.83 EPS for the current fiscal year.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Wednesday, June 21st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.32%. Toro’s dividend payout ratio (DPR) is presently 29.82%.

Analysts Set New Price Targets

TTC has been the topic of a number of recent research reports. CL King initiated coverage on Toro in a research report on Friday, May 19th. They set a “buy” rating and a $133.00 price target on the stock. Northland Securities initiated coverage on Toro in a research note on Monday, April 17th. They set a “market perform” rating and a $110.00 price objective for the company. Finally, StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.25.

Insider Activity

In other news, CEO Richard M. Olson sold 12,000 shares of the stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $109.40, for a total value of $1,312,800.00. Following the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at $1,959,682.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard M. Olson sold 12,000 shares of the stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $109.40, for a total value of $1,312,800.00. Following the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at $1,959,682.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Renee J. Peterson sold 26,500 shares of the stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $110.09, for a total value of $2,917,385.00. Following the completion of the transaction, the vice president now directly owns 15,318 shares in the company, valued at $1,686,358.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,634 shares of company stock valued at $6,516,758. Company insiders own 2.22% of the company’s stock.

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.