New York State Teachers Retirement System Has $6.12 Million Stake in Toro Company (The) (NYSE:TTC)

New York State Teachers Retirement System lessened its holdings in Toro Company (The) (NYSE:TTC) by 13.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,103 shares of the company’s stock after selling 12,700 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Toro worth $6,118,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TTC. Smartleaf Asset Management LLC grew its position in Toro by 1,023.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the company’s stock worth $137,000 after buying an additional 1,555 shares during the last quarter. Keybank National Association OH raised its position in Toro by 8.7% during the 4th quarter. Keybank National Association OH now owns 3,630 shares of the company’s stock worth $291,000 after buying an additional 292 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Toro by 693.0% in the fourth quarter. Victory Capital Management Inc. now owns 414,961 shares of the company’s stock valued at $33,238,000 after purchasing an additional 362,634 shares in the last quarter. Atria Investments Inc raised its holdings in Toro by 30.6% in the fourth quarter. Atria Investments Inc now owns 29,687 shares of the company’s stock valued at $2,378,000 after acquiring an additional 6,951 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Toro by 12.2% in the fourth quarter. M&T Bank Corp now owns 9,817 shares of the company’s stock worth $786,000 after acquiring an additional 1,070 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Stock Performance

Shares of TTC stock opened at $74.54 on Friday. Toro Company has a one year low of $62.34 and a one year high of $100.93. The firm has a 50-day moving average of $72.43 and a 200-day moving average of $75.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. The company has a market cap of $7.36 billion, a P/E ratio of 19.11 and a beta of 0.81.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. Toro’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. Equities research analysts forecast that Toro Company will post 4.41 EPS for the current fiscal year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Tuesday, June 17th. Toro’s dividend payout ratio is currently 38.97%.

Analyst Ratings Changes

Several research firms have weighed in on TTC. Raymond James Financial lowered their price objective on shares of Toro from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, June 6th. Robert W. Baird upped their target price on Toro from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, June 3rd. Northland Securities reissued a “market perform” rating and set a $80.00 target price (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. Wall Street Zen downgraded Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Northland Capmk cut Toro from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Toro presently has a consensus rating of “Hold” and a consensus target price of $82.75.

Insider Buying and Selling at Toro

In other news, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the sale, the vice president directly owned 11,646 shares of the company’s stock, valued at approximately $826,749.54. This represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of Toro stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the transaction, the director owned 34,062 shares of the company’s stock, valued at approximately $2,411,930.22. The trade was a 12.88% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Toro 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.