The Toro Company (NYSE:TTC) Stock Position Lessened by IFM Investors Pty Ltd

IFM Investors Pty Ltd decreased its holdings in The Toro Company (NYSE:TTC) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,279 shares of the company’s stock after selling 1,071 shares during the quarter. IFM Investors Pty Ltd’s holdings in Toro were worth $1,950,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of Toro in the fourth quarter worth $26,000. VisionPoint Advisory Group LLC grew its stake in shares of Toro by 135.9% in the third quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock worth $25,000 after purchasing an additional 174 shares in the last quarter. Rise Advisors LLC grew its stake in shares of Toro by 2,057.1% in the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 288 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Toro in the third quarter worth $25,000. Finally, Millburn Ridgefield Corp bought a new position in Toro during the third quarter valued at about $30,000. Institutional investors own 87.95% of the company’s stock.

Insider Buying and Selling

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

Toro Trading Up 0.9 %

Shares of NYSE TTC traded up $0.78 during mid-day trading on Friday, hitting $87.50. 419,610 shares of the company traded hands, compared to its average volume of 646,881. The Toro Company has a 1 year low of $78.35 and a 1 year high of $108.50. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 31.93 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average of $89.32 and a two-hundred day moving average of $88.98.

Toro (NYSE:TTC) last announced its earnings results on Thursday, March 7th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Toro had a net margin of 6.53% and a return on equity of 26.66%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that The Toro Company will post 4.3 earnings per share for the current fiscal year.

Toro Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Toro Profile

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.