Toro Company (The) (NYSE:TTC) Shares Acquired by Allworth Financial LP

Allworth Financial LP grew its stake in Toro Company (The) (NYSE:TTC) by 91.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 663 shares of the company’s stock after purchasing an additional 317 shares during the period. Allworth Financial LP’s holdings in Toro were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. M&T Bank Corp grew its holdings in Toro by 11.2% in the 1st quarter. M&T Bank Corp now owns 10,915 shares of the company’s stock valued at $794,000 after buying an additional 1,098 shares in the last quarter. Values First Advisors Inc. raised its holdings in shares of Toro by 1.2% during the 1st quarter. Values First Advisors Inc. now owns 20,312 shares of the company’s stock worth $1,479,000 after acquiring an additional 242 shares during the period. Capital Management Associates Inc boosted its position in shares of Toro by 100.0% during the 1st quarter. Capital Management Associates Inc now owns 11,362 shares of the company’s stock valued at $827,000 after acquiring an additional 5,681 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Toro by 8.0% in the first quarter. Envestnet Asset Management Inc. now owns 326,859 shares of the company’s stock valued at $23,779,000 after purchasing an additional 24,157 shares during the period. Finally, HM Payson & Co. grew its holdings in shares of Toro by 28.4% in the first quarter. HM Payson & Co. now owns 1,500 shares of the company’s stock valued at $109,000 after purchasing an additional 332 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TTC. Raymond James Financial decreased their target price 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. DA Davidson set a $76.00 target price on Toro and gave the stock a “neutral” rating in a research note on Monday, June 9th. Northland Capmk downgraded Toro from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 6th. Northland Securities reaffirmed a “market perform” rating and issued a $80.00 price target (down previously from $100.00) on shares of Toro in a research note on Friday, June 6th. Finally, Robert W. Baird increased their price target on Toro from $84.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, June 3rd. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $82.75.

Insider Activity at Toro

In other news, Director Gary Lee Ellis sold 5,038 shares of the business’s stock in a transaction dated 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 transaction, the director directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kurt D. Svendsen sold 6,000 shares of Toro stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the sale, the vice president directly owned 11,646 shares of the company’s stock, valued at $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Toro Stock Down 0.4%

Toro stock opened at $73.74 on Friday. The company has a market capitalization of $7.28 billion, a PE ratio of 18.91 and a beta of 0.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81. Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $98.61. The firm has a 50 day moving average price of $73.26 and a 200 day moving average price of $74.81.

Toro (NYSE:TTC) last issued 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 business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 earnings per share. Research analysts expect that Toro Company will post 4.41 earnings per share for the current year.

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, June 17th. Toro’s payout ratio is 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.