Vanguard Group Inc. boosted its position in Toro Co. (NYSE:TTC) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,185,863 shares of the company’s stock after buying an additional 97,892 shares during the period. Vanguard Group Inc. owned approximately 7.61% of Toro worth $369,193,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of TTC. Creative Planning raised its stake in Toro by 2.3% in the second quarter. Creative Planning now owns 1,492 shares of the company’s stock worth $132,000 after buying an additional 33 shares in the last quarter. TLP Group LLC bought a new position in Toro during the second quarter worth about $161,000. Advisory Services Network LLC increased its position in Toro by 234.5% in the second quarter. Advisory Services Network LLC now owns 1,880 shares of the company’s stock worth $166,000 after buying an additional 1,318 shares during the last quarter. Quantbot Technologies LP bought a new position in Toro during the second quarter worth about $179,000. Finally, Smithfield Trust Co. bought a new position in Toro during the second quarter worth about $217,000. Institutional investors own 37.47% of the company’s stock.
Shares of Toro Co. (NYSE:TTC) traded down 0.454% during mid-day trading on Friday, hitting $47.095. 44,971 shares of the stock traded hands. The firm has a 50 day moving average of $47.75 and a 200 day moving average of $45.17. Toro Co. has a 12 month low of $32.36 and a 12 month high of $49.50. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 23.595 and a beta of 0.49.
Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, August 18th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.99 by $0.01. The firm earned $601 million during the quarter, compared to analyst estimates of $623.79 million. Toro had a net margin of 9.33% and a return on equity of 43.50%. Toro’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 EPS. On average, equities analysts expect that Toro Co. will post $2.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be paid 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 yield of 1.27%. Toro’s payout ratio is 29.93%.
A number of equities analysts recently issued reports on the stock. Northcoast Research reissued a “neutral” rating on shares of Toro in a research note on Thursday, June 30th. Sidoti downgraded shares of Toro from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research note on Friday, June 10th. Finally, Zacks Investment Research raised shares of Toro from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Five analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of C$45.67.
In other Toro news, VP William E. Brown, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of C$98.34, for a total transaction of C$590,040.00. Following the transaction, the vice president now owns 93,469 shares in the company, valued at approximately C$9,191,741.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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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