Cetera Investment Advisers Buys 282 Shares of Toro Company (The) (NYSE:TTC)

Cetera Investment Advisers boosted its stake in shares of Toro Company (The) (NYSE:TTC) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,936 shares of the company’s stock after acquiring an additional 282 shares during the period. Cetera Investment Advisers’ holdings in Toro were worth $505,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company’s stock worth $29,000 after acquiring an additional 206 shares during the period. Financial Harvest LLC bought a new stake in Toro during the first quarter worth about $42,000. Allworth Financial LP lifted its position in Toro by 91.6% during the first quarter. Allworth Financial LP now owns 663 shares of the company’s stock worth $46,000 after purchasing an additional 317 shares during the period. Versant Capital Management Inc lifted its position in Toro by 81.2% during the first quarter. Versant Capital Management Inc now owns 868 shares of the company’s stock worth $63,000 after purchasing an additional 389 shares during the period. Finally, HM Payson & Co. lifted its position in Toro by 28.4% during the first quarter. HM Payson & Co. now owns 1,500 shares of the company’s stock worth $109,000 after purchasing an additional 332 shares during the period. Institutional investors own 87.95% of the company’s stock.

Insider Activity at Toro

In other news, Director Gary Lee Ellis sold 5,038 shares of the company’s 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 $2,411,930.22. This represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Kurt D. Svendsen sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the transaction, the vice president directly owned 11,646 shares of the company’s stock, valued at $826,749.54. This represents a 34.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Toro Stock Down 1.4%

Shares of NYSE TTC opened at $76.91 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 19.72 and a beta of 0.80. Toro Company has a 12 month low of $62.34 and a 12 month high of $93.00. The stock has a 50-day moving average price of $73.08 and a two-hundred day moving average price of $73.71.

Toro (NYSE:TTC) last issued its earnings results on Thursday, June 5th. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. The firm 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%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, analysts forecast that Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $1.52 annualized dividend and a dividend yield of 2.0%. Toro’s dividend payout ratio is currently 38.97%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TTC shares. Northland Securities reaffirmed a “market perform” rating and set a $80.00 price objective (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. Robert W. Baird upped their price objective on shares of Toro from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 3rd. Raymond James Financial cut their price objective on shares of Toro from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, June 6th. Northland Capmk cut shares of Toro from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 6th. Finally, DA Davidson set a $76.00 price objective on shares of Toro and gave the stock a “neutral” rating in a research report on Monday, June 9th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $82.75.

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.