First Trust Advisors LP Cuts Stock Holdings in Toro Co (NYSE:TTC)

First Trust Advisors LP reduced its position in shares of Toro Co (NYSE:TTC) by 39.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,846 shares of the company’s stock after selling 79,491 shares during the period. First Trust Advisors LP’s holdings in Toro were worth $8,858,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Krane Funds Advisors LLC purchased a new stake in Toro during the 2nd quarter worth approximately $25,000. Cerebellum GP LLC purchased a new stake in Toro during the 3rd quarter worth approximately $31,000. Transamerica Financial Advisors Inc. purchased a new stake in Toro during the 2nd quarter worth approximately $37,000. Nomura Asset Management Co. Ltd. purchased a new stake in Toro during the 2nd quarter worth approximately $37,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in Toro during the 2nd quarter worth approximately $87,000. Institutional investors own 80.58% of the company’s stock.

Several equities research analysts have commented on TTC shares. Dougherty & Co started coverage on Toro in a research note on Wednesday, August 28th. They set a “neutral” rating for the company. Zacks Investment Research lowered Toro from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Finally, ValuEngine cut Toro from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Five investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $71.00.

In other news, VP Kurt D. Svendsen sold 7,740 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $73.52, for a total transaction of $569,044.80. Following the transaction, the vice president now directly owns 13,498 shares in the company, valued at approximately $992,372.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Bradley A. Hamilton sold 6,680 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $72.00, for a total value of $480,960.00. Following the transaction, the vice president now owns 5,191 shares in the company, valued at $373,752. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,420 shares of company stock worth $6,825,905. Insiders own 2.36% of the company’s stock.

Shares of Toro stock opened at $77.57 on Tuesday. The stock has a market cap of $8.11 billion, a P/E ratio of 29.05, a P/E/G ratio of 2.30 and a beta of 0.79. The stock’s 50 day simple moving average is $74.76 and its 200-day simple moving average is $71.58. Toro Co has a 1-year low of $52.97 and a 1-year high of $78.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.49 and a quick ratio of 0.67.

Toro (NYSE:TTC) last issued its earnings results on Thursday, August 22nd. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.10. The business had revenue of $838.71 million for the quarter, compared to analysts’ expectations of $876.33 million. Toro had a return on equity of 40.52% and a net margin of 9.34%. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. As a group, research analysts expect that Toro Co will post 2.96 EPS for the current fiscal year.

About Toro

The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, 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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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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