Retirement Systems of Alabama lowered its stake in shares of The Toro Company (NYSE:TTC – Get Rating) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 137,653 shares of the company’s stock after selling 1,734 shares during the quarter. Retirement Systems of Alabama’s holdings in Toro were worth $11,768,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Select Equity Group L.P. grew its position in Toro by 0.7% during the fourth quarter. Select Equity Group L.P. now owns 4,626,911 shares of the company’s stock valued at $462,275,000 after buying an additional 32,673 shares during the period. Victory Capital Management Inc. grew its position in Toro by 9.5% during the fourth quarter. Victory Capital Management Inc. now owns 3,108,279 shares of the company’s stock valued at $310,549,000 after buying an additional 269,779 shares during the period. State Street Corp grew its position in Toro by 0.9% during the fourth quarter. State Street Corp now owns 2,786,397 shares of the company’s stock valued at $279,220,000 after buying an additional 24,994 shares during the period. Mairs & Power Inc. grew its position in Toro by 4.5% during the fourth quarter. Mairs & Power Inc. now owns 2,723,989 shares of the company’s stock valued at $272,154,000 after buying an additional 117,126 shares during the period. Finally, Champlain Investment Partners LLC grew its position in Toro by 2.1% during the fourth quarter. Champlain Investment Partners LLC now owns 2,643,340 shares of the company’s stock valued at $264,096,000 after buying an additional 53,444 shares during the period. Institutional investors own 82.56% of the company’s stock.
Several research firms recently weighed in on TTC. Robert W. Baird reduced their price target on shares of Toro from $108.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, May 31st. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Tuesday, June 28th.
Shares of NYSE:TTC opened at $76.95 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $8.05 billion, a PE ratio of 22.97 and a beta of 0.73. The Toro Company has a twelve month low of $71.86 and a twelve month high of $115.68. The company has a 50-day moving average price of $79.74 and a two-hundred day moving average price of $87.95.
Toro (NYSE:TTC – Get Rating) last issued its earnings results on Thursday, June 2nd. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). Toro had a return on equity of 30.52% and a net margin of 8.67%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the business earned $1.29 EPS. Toro’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts anticipate that The Toro Company will post 4.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 13th. Stockholders of record on Wednesday, June 22nd will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, June 21st. Toro’s payout ratio is 35.82%.
In other news, VP Richard W. Rodier sold 4,000 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $79.30, for a total value of $317,200.00. Following the sale, the vice president now directly owns 23,696 shares of the company’s stock, valued at $1,879,092.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Daryn A. Walters sold 1,670 shares of the stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $76.68, for a total transaction of $128,055.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,862 shares of company stock worth $894,779. Insiders own 2.10% of the company’s stock.
About Toro (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.
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