Brown Brothers Harriman & Co. raised its stake in The Toro Company (NYSE:TTC) by 77.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 8,534 shares of the company’s stock after buying an additional 3,734 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in The Toro were worth $938,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TTC. FMR LLC raised its holdings in The Toro by 105.2% in the 1st quarter. FMR LLC now owns 724,513 shares of the company’s stock valued at $49,875,000 after acquiring an additional 371,518 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of The Toro by 20.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 126,071 shares of the company’s stock worth $8,678,000 after buying an additional 21,328 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of The Toro by 19.2% during the 1st quarter. Russell Investments Group Ltd. now owns 54,759 shares of the company’s stock worth $5,650,000 after buying an additional 8,803 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of The Toro by 22.4% during the 1st quarter. Teacher Retirement System of Texas now owns 11,983 shares of the company’s stock worth $1,236,000 after buying an additional 2,191 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of The Toro by 22.5% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 5,993 shares of the company’s stock worth $618,000 after buying an additional 1,102 shares in the last quarter. 80.98% of the stock is owned by hedge funds and other institutional investors.
In other The Toro news, Director Janet Katherine Cooper sold 1,702 shares of the company’s stock in a transaction dated Tuesday, September 28th. The stock was sold at an average price of $99.18, for a total value of $168,804.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.
Shares of TTC opened at $94.58 on Thursday. The Toro Company has a 12-month low of $80.77 and a 12-month high of $118.13. The business has a 50-day simple moving average of $105.72 and a two-hundred day simple moving average of $108.62. The company has a quick ratio of 0.92, a current ratio of 1.61 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.07 billion, a PE ratio of 24.38, a PEG ratio of 2.79 and a beta of 0.77.
The Toro (NYSE:TTC) last issued its earnings results on Wednesday, September 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.16. The Toro had a return on equity of 33.79% and a net margin of 10.99%. The business had revenue of $976.20 million during the quarter, compared to analysts’ expectations of $954.66 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts expect that The Toro Company will post 3.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 21st. Shareholders of record on Wednesday, October 6th will be issued a $0.2625 dividend. The ex-dividend date of this dividend is Tuesday, October 5th. This represents a $1.05 dividend on an annualized basis and a yield of 1.11%. The Toro’s payout ratio is presently 34.77%.
The Toro Profile
The Toro Co designs, manufactures, and markets a range of turf equipment. It operates through the following segments: Professional and Residential. The Professional segment consists of turf & landscape equipment; rental, specialty, and underground construction equipment; snow & ice management equipment; and irrigation products.
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