Consolidated Planning Corp Purchases Shares of 37,218 The Toro Company (NYSE:TTC)

Consolidated Planning Corp purchased a new stake in shares of The Toro Company (NYSE:TTC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,218 shares of the company’s stock, valued at approximately $3,573,000.

Other hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Toro by 25.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,180,246 shares of the company’s stock valued at $347,378,000 after buying an additional 835,637 shares during the period. Wellington Management Group LLP increased its holdings in shares of Toro by 249.0% during the third quarter. Wellington Management Group LLP now owns 1,061,930 shares of the company’s stock worth $88,246,000 after buying an additional 757,641 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Toro by 20.3% during the third quarter. Invesco Ltd. now owns 1,209,725 shares of the company’s stock worth $100,528,000 after buying an additional 204,542 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Toro by 2,481.2% in the third quarter. Alps Advisors Inc. now owns 74,985 shares of the company’s stock valued at $6,231,000 after purchasing an additional 72,080 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank increased its holdings in shares of Toro by 99.5% in the third quarter. Cape Cod Five Cents Savings Bank now owns 129,240 shares of the company’s stock valued at $10,740,000 after purchasing an additional 64,446 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on TTC shares. StockNews.com lowered shares of Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. DA Davidson raised their price target on shares of Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Finally, TheStreet raised shares of Toro from a “c+” rating to a “b-” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $105.60.

Insider Buying and Selling

In related news, VP Edric C. Funk sold 615 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $89.57, for a total transaction of $55,085.55. Following the sale, the vice president now directly owns 1,049 shares in the company, valued at $93,958.93. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Toro news, VP Edric C. Funk sold 615 shares of Toro stock in a transaction on Friday, March 15th. The shares were sold at an average price of $89.57, for a total value of $55,085.55. Following the sale, the vice president now directly owns 1,049 shares in the company, valued at approximately $93,958.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Lee Ellis sold 5,192 shares of Toro stock in a transaction on Friday, March 15th. The shares were sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the sale, the director now owns 33,051 shares in the company, valued at $2,933,276.25. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by company insiders.

Toro Trading Up 0.9 %

Shares of NYSE TTC traded up $0.78 during midday trading on Friday, reaching $87.50. 419,610 shares of the stock were exchanged, compared to its average volume of 646,881. The business has a 50-day simple moving average of $89.32 and a two-hundred day simple moving average of $88.94. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of 31.94 and a beta of 0.72. The Toro Company has a 12 month low of $78.35 and a 12 month high of $108.50. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 0.86.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Toro had a return on equity of 26.66% and a net margin of 6.53%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, equities research analysts expect that The Toro Company will post 4.3 EPS for the current year.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.65%. Toro’s payout ratio is 52.55%.

About Toro

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The 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, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.