Avantax Advisory Services Inc. Sells 701 Shares of Toro Company (The) (NYSE:TTC)

Avantax Advisory Services Inc. lessened its stake in Toro Company (The) (NYSE:TTC) by 14.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,190 shares of the company’s stock after selling 701 shares during the period. Avantax Advisory Services Inc.’s holdings in Toro were worth $305,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TTC. True Wealth Design LLC grew its position in shares of Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after buying an additional 206 shares during the last quarter. Financial Harvest LLC bought a new stake in shares of Toro in the 1st quarter valued at about $42,000. CIBC Private Wealth Group LLC grew its position in shares of Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock valued at $43,000 after buying an additional 127 shares during the last quarter. Allworth Financial LP grew its position in shares of Toro by 91.6% in the 1st quarter. Allworth Financial LP now owns 663 shares of the company’s stock valued at $46,000 after buying an additional 317 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Toro by 81.2% in the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company’s stock valued at $63,000 after buying an additional 389 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TTC has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on Toro from $84.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, June 3rd. Northland Capmk downgraded Toro from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 6th. Northland Securities reissued a “market perform” rating and issued a $80.00 price objective (down from $100.00) on shares of Toro in a research note on Friday, June 6th. DA Davidson set a $76.00 price objective on Toro and gave the company a “neutral” rating in a research note on Monday, June 9th. Finally, Raymond James Financial dropped their price objective on Toro from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, June 6th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $82.75.

Insider Activity at Toro

In other Toro 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 transaction, the vice president owned 11,646 shares in the company, valued at approximately $826,749.54. This represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of the 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 in the company, 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 corporate insiders.

Toro Stock Down 1.2%

Shares of NYSE:TTC opened at $73.45 on Friday. The business’s 50-day moving average is $72.88 and its 200-day moving average is $74.20. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 18.83 and a beta of 0.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. Toro Company has a 1 year low of $62.34 and a 1 year high of $93.00.

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, topping the consensus estimate of $1.40 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 earnings per share. Equities research analysts predict that Toro Company will post 4.41 earnings per share for the current year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th were issued a $0.38 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.1%. Toro’s dividend payout ratio is presently 38.97%.

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.