California Public Employees Retirement System Sells 10,097 Shares of The Toro Company (NYSE:TTC)

California Public Employees Retirement System cut its holdings in shares of The Toro Company (NYSE:TTC) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,534 shares of the company’s stock after selling 10,097 shares during the quarter. California Public Employees Retirement System’s holdings in Toro were worth $24,913,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TTC. Kayne Anderson Rudnick Investment Management LLC increased its stake in Toro by 25.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,180,246 shares of the company’s stock valued at $347,378,000 after acquiring an additional 835,637 shares during the last quarter. Wellington Management Group LLP increased its stake in Toro by 249.0% in the third quarter. Wellington Management Group LLP now owns 1,061,930 shares of the company’s stock valued at $88,246,000 after acquiring an additional 757,641 shares during the last quarter. Invesco Ltd. increased its stake in Toro by 20.3% in the third quarter. Invesco Ltd. now owns 1,209,725 shares of the company’s stock valued at $100,528,000 after acquiring an additional 204,542 shares during the last quarter. Alps Advisors Inc. boosted its position in Toro by 2,481.2% in the third quarter. Alps Advisors Inc. now owns 74,985 shares of the company’s stock valued at $6,231,000 after buying an additional 72,080 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank boosted its position in Toro by 99.5% in the third quarter. Cape Cod Five Cents Savings Bank now owns 129,240 shares of the company’s stock valued at $10,740,000 after buying an additional 64,446 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

Insider Activity at Toro

In related news, VP Edric C. Funk sold 615 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $89.57, for a total value of $55,085.55. Following the transaction, the vice president now owns 1,049 shares in the company, valued at $93,958.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Gary Lee Ellis sold 5,192 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $88.75, for a total value of $460,790.00. Following the transaction, the director now owns 33,051 shares in the company, valued at $2,933,276.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Edric C. Funk sold 615 shares of Toro stock in a transaction on Friday, March 15th. The shares were sold at an average price of $89.57, for a total transaction of $55,085.55. Following the completion of the sale, the vice president now directly owns 1,049 shares of the company’s stock, valued at $93,958.93. The disclosure for this sale can be found here. 1.62% of the stock is owned by company insiders.

Toro Price Performance

Shares of NYSE:TTC opened at $87.50 on Monday. The firm has a market cap of $9.14 billion, a PE ratio of 31.93 and a beta of 0.72. The firm’s fifty day moving average is $89.32 and its 200-day moving average is $88.98. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 2.13. The Toro Company has a 52 week low of $78.35 and a 52 week high of $108.50.

Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Toro had a return on equity of 26.66% and a net margin of 6.53%. Toro’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. Sell-side analysts predict that The Toro Company will post 4.3 earnings per share for the current year.

Toro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.44 annualized dividend and a yield of 1.65%. Toro’s payout ratio is 52.55%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TTC shares. DA Davidson raised their target price on shares of Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. TheStreet upgraded shares of Toro from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th. Finally, StockNews.com lowered shares of Toro from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Toro has a consensus rating of “Hold” and a consensus price target of $105.60.

Toro Company Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The 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, such as snowplows, as well as stand-on snow and ice removal equipment, such as 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.