Commonwealth Equity Services LLC Cuts Position in The Toro Company (NYSE:TTC)

Commonwealth Equity Services LLC decreased its holdings in The Toro Company (NYSE:TTCFree Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,145 shares of the company’s stock after selling 343 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Toro were worth $2,304,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TTC. Norges Bank purchased a new position in Toro in the fourth quarter worth $103,785,000. Wellington Management Group LLP increased its position in shares of Toro by 73.8% in the fourth quarter. Wellington Management Group LLP now owns 1,845,724 shares of the company’s stock valued at $177,171,000 after buying an additional 783,794 shares in the last quarter. TD Asset Management Inc increased its position in shares of Toro by 334.2% in the fourth quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock valued at $78,545,000 after buying an additional 629,820 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of Toro by 250.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 459,717 shares of the company’s stock valued at $44,128,000 after buying an additional 328,550 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new position in shares of Toro in the first quarter valued at $20,688,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird lifted their price objective on Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. DA Davidson raised their price target on Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Finally, StockNews.com lowered Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $98.75.

Check Out Our Latest Research Report on TTC

Toro Stock Performance

NYSE TTC opened at $88.17 on Friday. The firm has a market capitalization of $9.16 billion, a P/E ratio of 34.85 and a beta of 0.69. The Toro Company has a 1-year low of $77.15 and a 1-year high of $106.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87. The business’s 50-day simple moving average is $89.16 and its 200-day simple moving average is $90.68.

Toro (NYSE:TTCGet Free Report) last released its quarterly earnings data on Thursday, June 6th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Toro had a return on equity of 25.04% and a net margin of 6.00%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 EPS. Equities analysts predict that The Toro Company will post 4.33 EPS for the current year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 18th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, June 18th. Toro’s dividend payout ratio is currently 56.92%.

Insider Activity

In related news, CEO Richard M. Olson sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the sale, the chief executive officer now directly owns 17,913 shares in the company, valued at approximately $1,705,138.47. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.62% of the company’s stock.

About Toro

(Free Report)

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.

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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