Private Advisor Group LLC Makes New $582,000 Investment in The Toro Company (NYSE:TTC)

Private Advisor Group LLC acquired a new position in The Toro Company (NYSE:TTC) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,232 shares of the company’s stock, valued at approximately $582,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Durable Capital Partners LP bought a new position in shares of Toro in the first quarter worth approximately $150,798,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Toro by 29.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,067,162 shares of the company’s stock worth $573,603,000 after buying an additional 1,154,233 shares in the last quarter. Norges Bank bought a new position in shares of Toro in the fourth quarter worth approximately $118,097,000. First Trust Advisors LP lifted its stake in shares of Toro by 336.6% in the first quarter. First Trust Advisors LP now owns 932,866 shares of the company’s stock worth $79,751,000 after buying an additional 719,203 shares in the last quarter. Finally, Pictet Asset Management SA lifted its position in Toro by 27.1% during the first quarter. Pictet Asset Management SA now owns 2,146,107 shares of the company’s stock valued at $238,561,000 after purchasing an additional 458,251 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TTC shares. DA Davidson started coverage on shares of Toro in a research report on Wednesday, June 21st. They set a “buy” rating and a $117.00 price objective on the stock. Robert W. Baird lowered their price objective on shares of Toro from $120.00 to $110.00 in a research report on Friday, June 9th. CL King started coverage on shares of Toro in a research report on Friday, May 19th. They set a “buy” rating and a $133.00 price objective on the stock. Finally, StockNews.com started coverage on shares of Toro in a research report on Thursday, August 17th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Insider Activity at Toro

In related news, VP Daryn A. Walters bought 1,654 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was bought at an average cost of $97.41 per share, with a total value of $161,116.14. Following the completion of the purchase, the vice president now owns 3,684 shares of the company’s stock, valued at approximately $358,858.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.22% of the stock is currently owned by corporate insiders.

Toro Stock Up 1.3 %

TTC opened at $103.60 on Friday. The company has a current ratio of 1.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.67. The Toro Company has a 1-year low of $81.56 and a 1-year high of $117.66. The company has a market capitalization of $10.77 billion, a PE ratio of 21.10 and a beta of 0.72. The firm’s 50 day simple moving average is $101.47 and its two-hundred day simple moving average is $104.18.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, June 8th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.06. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Toro had a net margin of 10.73% and a return on equity of 36.32%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities analysts forecast that The Toro Company will post 4.78 EPS for the current year.

Toro Company Profile

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.