Cerity Partners LLC Has $3.18 Million Position in Toro Company (The) (NYSE:TTC)

Cerity Partners LLC grew its position in shares of Toro Company (The) (NYSE:TTC) by 8.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,703 shares of the company’s stock after purchasing an additional 3,396 shares during the quarter. Cerity Partners LLC’s holdings in Toro were worth $3,179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors raised its position in Toro by 33.8% during the 4th quarter. Captrust Financial Advisors now owns 52,934 shares of the company’s stock worth $4,240,000 after purchasing an additional 13,373 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Toro by 7.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 535,787 shares of the company’s stock worth $38,882,000 after acquiring an additional 37,405 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Toro by 33.6% in the fourth quarter. LPL Financial LLC now owns 57,435 shares of the company’s stock worth $4,601,000 after acquiring an additional 14,433 shares during the period. M&T Bank Corp boosted its holdings in Toro by 11.2% in the first quarter. M&T Bank Corp now owns 10,915 shares of the company’s stock valued at $794,000 after acquiring an additional 1,098 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Toro by 87.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company’s stock valued at $3,306,000 after purchasing an additional 21,214 shares during the period. 87.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction of $425,940.00. Following the transaction, the vice president directly owned 11,646 shares in the company, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Lee Ellis sold 5,038 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total transaction of $356,740.78. Following the completion of the sale, 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. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. DA Davidson set a $76.00 price target on shares of Toro and gave the stock a “neutral” rating in a research report on Monday, June 9th. Northland Capmk lowered shares of Toro from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 6th. Robert W. Baird boosted their target price on shares of Toro from $84.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, June 3rd. Northland Securities restated a “market perform” rating and issued a $80.00 price target (down from $100.00) on shares of Toro in a report on Friday, June 6th. Finally, Raymond James Financial decreased their price target on shares of Toro from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, June 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Toro has a consensus rating of “Hold” and a consensus price target of $82.75.

Toro Trading Down 0.4%

NYSE TTC opened at $73.74 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.81 and a debt-to-equity ratio of 0.73. Toro Company has a 52 week low of $62.34 and a 52 week high of $98.61. The business has a 50 day moving average price of $73.26 and a 200-day moving average price of $74.81. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 18.91 and a beta of 0.81.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Toro had a net margin of 8.77% and a return on equity of 27.99%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $1.40 earnings per share. As a group, equities analysts expect that Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Tuesday, June 17th. Toro’s dividend payout ratio is currently 38.97%.

About Toro

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.