California Public Employees Retirement System Sells 12,315 Shares of The Toro Company (NYSE:TTC)

California Public Employees Retirement System lessened its stake in shares of The Toro Company (NYSE:TTCGet Rating) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,179 shares of the company’s stock after selling 12,315 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Toro worth $22,997,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Sageworth Trust Co of South Dakota bought a new position in Toro during the 4th quarter valued at approximately $30,000. AlphaCrest Capital Management LLC increased its holdings in shares of Toro by 16.1% in the 4th quarter. AlphaCrest Capital Management LLC now owns 40,049 shares of the company’s stock worth $4,001,000 after purchasing an additional 5,550 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Toro by 104.9% in the 4th quarter. Lazard Asset Management LLC now owns 25,722 shares of the company’s stock worth $2,569,000 after purchasing an additional 13,170 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Toro by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 860,556 shares of the company’s stock worth $85,975,000 after purchasing an additional 7,897 shares in the last quarter. Finally, Connectus Wealth LLC bought a new stake in shares of Toro in the 4th quarter worth $5,549,000. 82.56% of the stock is owned by institutional investors.

A number of research firms have commented on TTC. Zacks Investment Research lowered Toro from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Robert W. Baird reduced their target price on Toro from $120.00 to $110.00 in a report on Monday, February 28th. Finally, StockNews.com began coverage on Toro in a report on Thursday, March 31st. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, Toro currently has an average rating of “Hold” and a consensus target price of $95.67.

TTC stock opened at $79.97 on Friday. The company has a market cap of $8.36 billion, a P/E ratio of 23.38 and a beta of 0.72. The Toro Company has a 1 year low of $75.89 and a 1 year high of $115.68. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.46 and a quick ratio of 0.61. The stock’s fifty day moving average price is $83.91 and its 200-day moving average price is $93.37.

Toro (NYSE:TTCGet Rating) last released its quarterly earnings results on Thursday, March 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $932.70 million for the quarter, compared to the consensus estimate of $972.07 million. Toro had a return on equity of 31.17% and a net margin of 9.16%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. As a group, analysts expect that The Toro Company will post 4.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 21st. Investors of record on Wednesday, April 6th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, April 5th. This represents a $1.20 annualized dividend and a yield of 1.50%. Toro’s dividend payout ratio (DPR) is presently 35.09%.

In related news, VP Richard W. Rodier sold 3,600 shares of Toro stock in a transaction on Friday, March 25th. The stock was sold at an average price of $85.95, for a total transaction of $309,420.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Toro Company Profile (Get Rating)

The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. The company's 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; and snow and ice management equipment, such as snowplows, brush, snow thrower attachment, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

Further Reading

Institutional Ownership by Quarter for Toro (NYSE:TTC)

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