Strs Ohio purchased a new position in shares of Toro Co (NYSE:TTC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,683 shares of the company’s stock, valued at approximately $1,239,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinz Capital Management LP bought a new stake in Toro during the first quarter valued at about $26,000. Cerebellum GP LLC bought a new stake in Toro during the second quarter valued at about $31,000. GQ Asset Management LLC bought a new stake in Toro during the first quarter valued at about $33,000. Synovus Financial Corp boosted its position in Toro by 1,687.8% during the first quarter. Synovus Financial Corp now owns 733 shares of the company’s stock valued at $48,000 after purchasing an additional 692 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Toro during the first quarter valued at about $48,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on TTC shares. Zacks Investment Research downgraded Toro from a “hold” rating to a “sell” rating in a research report on Tuesday, June 2nd. Northcoast Research reaffirmed a “neutral” rating on shares of Toro in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Toro presently has a consensus rating of “Hold” and an average price target of $77.00.
Toro (NYSE:TTC) last released its earnings results on Thursday, June 4th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). The company had revenue of $929.40 million for the quarter, compared to analysts’ expectations of $1.03 billion. Toro had a return on equity of 34.60% and a net margin of 8.18%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. As a group, research analysts anticipate that Toro Co will post 2.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.40%. The ex-dividend date was Friday, June 19th. Toro’s dividend payout ratio is presently 33.33%.
In other Toro news, CEO Richard M. Olson sold 6,057 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $72.44, for a total transaction of $438,769.08. Following the sale, the chief executive officer now owns 21,106 shares of the company’s stock, valued at approximately $1,528,918.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary Lee Ellis sold 9,244 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $68.04, for a total transaction of $628,961.76. Following the completion of the sale, the director now directly owns 38,889 shares in the company, valued at $2,646,007.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,097 shares of company stock worth $1,561,884. 1.77% of the stock is owned by insiders.
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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