Eaton Vance Management reduced its position in shares of Toro Co. (NYSE:TTC) by 88.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,166 shares of the company’s stock after selling 136,697 shares during the period. Eaton Vance Management’s holdings in Toro were worth $1,514,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Toro during the fourth quarter worth approximately $34,407,000. Acadian Asset Management LLC increased its stake in Toro by 24,318.9% in the first quarter. Acadian Asset Management LLC now owns 18,070 shares of the company’s stock worth $1,556,000 after buying an additional 17,996 shares during the period. Fox Run Management L.L.C. purchased a new stake in Toro during the first quarter worth about $284,000. Aperio Group LLC increased its stake in Toro by 13.0% in the first quarter. Aperio Group LLC now owns 24,010 shares of the company’s stock worth $2,068,000 after buying an additional 2,769 shares during the period. Finally, Nisa Investment Advisors L.L.C. increased its stake in Toro by 33.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 37,640 shares of the company’s stock worth $3,242,000 after buying an additional 9,500 shares during the period. 74.95% of the stock is owned by institutional investors and hedge funds.
Toro Co. (NYSE:TTC) opened at 46.43 on Friday. Toro Co. has a 52 week low of $32.35 and a 52 week high of $49.50. The firm has a market cap of $5.08 billion, a PE ratio of 23.26 and a beta of 0.57. The firm’s 50 day moving average price is $47.73 and its 200-day moving average price is $44.84.
Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, August 18th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. Toro had a return on equity of 43.50% and a net margin of 9.33%. The company earned $601 million during the quarter, compared to the consensus estimate of $623.79 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts forecast that Toro Co. will post $2.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.29%. Toro’s dividend payout ratio (DPR) is presently 29.93%.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Toro from a “sell” rating to a “hold” rating in a research report on Saturday, September 3rd. Northcoast Research reissued a “neutral” rating on shares of Toro in a research report on Thursday, June 30th. Finally, Sidoti downgraded Toro from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research report on Friday, June 10th. Five research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of C$45.67.
In other news, CEO Michael J. Hoffman sold 125,600 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of C$86.46, for a total transaction of C$10,859,376.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William E. Brown, Jr. sold 6,000 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of C$98.34, for a total value of C$590,040.00. Following the sale, the vice president now owns 93,469 shares of the company’s stock, valued at approximately C$9,191,741.46. The disclosure for this sale can be found here. Insiders own 5.94% of the company’s stock.
Toro Company Profile
The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.
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