Raymond James & Associates Has $10.34 Million Stake in Toro Co (TTC)

Raymond James & Associates reduced its stake in shares of Toro Co (NYSE:TTC) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,548 shares of the company’s stock after selling 6,642 shares during the period. Raymond James & Associates owned 0.16% of Toro worth $10,336,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Toro by 1.5% during the 2nd quarter. BlackRock Inc. now owns 9,485,585 shares of the company’s stock valued at $571,507,000 after buying an additional 138,009 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Toro by 13.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,955,338 shares of the company’s stock valued at $117,809,000 after buying an additional 236,673 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of Toro by 97.9% during the 1st quarter. Select Equity Group L.P. now owns 1,025,856 shares of the company’s stock valued at $64,065,000 after buying an additional 507,586 shares in the last quarter. Northern Trust Corp lifted its position in shares of Toro by 2.4% during the 1st quarter. Northern Trust Corp now owns 836,616 shares of the company’s stock valued at $52,246,000 after buying an additional 19,456 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its holdings in Toro by 4.2% in the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 781,009 shares of the company’s stock worth $48,774,000 after purchasing an additional 31,477 shares in the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

NYSE TTC opened at $62.44 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.71. Toro Co has a 12 month low of $56.60 and a 12 month high of $67.81. The company has a market capitalization of $6.57 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 2.32 and a beta of 0.61.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, August 23rd. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. Toro had a return on equity of 46.89% and a net margin of 10.39%. The company had revenue of $655.80 million for the quarter, compared to analysts’ expectations of $664.75 million. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. equities analysts forecast that Toro Co will post 2.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Wednesday, October 3rd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, October 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.28%. Toro’s dividend payout ratio is presently 33.20%.

In other Toro news, Director Janet Katherine Cooper sold 3,336 shares of Toro stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $61.24, for a total value of $204,296.64. Following the sale, the director now owns 5,536 shares of the company’s stock, valued at approximately $339,024.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Bradley A. Hamilton sold 6,060 shares of Toro stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $62.74, for a total value of $380,204.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,286 shares of company stock worth $2,098,675. 5.69% of the stock is owned by insiders.

TTC has been the topic of a number of research analyst reports. Dougherty & Co reissued a “buy” rating on shares of Toro in a report on Monday, August 13th. ValuEngine raised Toro from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Finally, Zacks Investment Research raised Toro from a “sell” rating to a “hold” rating in a report on Wednesday, May 30th.

Toro Company Profile

The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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