BidaskClub lowered shares of Toro Company (The) (NYSE:TTC) from a buy rating to a hold rating in a research note released on Wednesday.
TTC has been the topic of several other reports. Longbow Research upgraded shares of Toro Company (The) from an underperform rating to a neutral rating in a research note on Monday, May 22nd. Cleveland Research upgraded shares of Toro Company (The) from a neutral rating to a buy rating in a research note on Thursday, March 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $58.50.
Toro Company (TTC) traded up 0.13% during trading on Wednesday, hitting $70.39. 31,660 shares of the stock were exchanged. The firm has a market capitalization of $7.60 billion, a PE ratio of 31.31 and a beta of 0.56. Toro Company has a 12-month low of $44.77 and a 12-month high of $73.00. The stock has a 50 day moving average price of $69.08 and a 200-day moving average price of $62.43.
Toro Company (The) (NYSE:TTC) last issued its quarterly earnings results on Thursday, May 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. Toro Company (The) had a net margin of 10.23% and a return on equity of 44.74%. The firm had revenue of $872.77 million for the quarter, compared to analyst estimates of $863.17 million. During the same period in the previous year, the business earned $1.89 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Toro Company will post $2.37 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Friday, June 23rd will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 21st. Toro Company (The)’s dividend payout ratio is currently 30.97%.
In other Toro Company (The) news, VP Thomas J. Larson sold 6,600 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $69.04, for a total value of $455,664.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP William E. Brown, Jr. sold 19,332 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $70.88, for a total transaction of $1,370,252.16. Following the completion of the sale, the vice president now directly owns 189,790 shares of the company’s stock, valued at approximately $13,452,315.20. The disclosure for this sale can be found here. Insiders sold a total of 72,872 shares of company stock valued at $5,119,937 in the last three months. Insiders own 5.69% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Greenleaf Trust bought a new position in shares of Toro Company (The) during the first quarter valued at approximately $214,000. Creative Planning increased its position in shares of Toro Company (The) by 11.0% in the first quarter. Creative Planning now owns 3,384 shares of the company’s stock valued at $211,000 after buying an additional 335 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Toro Company (The) by 0.3% in the first quarter. New York State Teachers Retirement System now owns 193,156 shares of the company’s stock valued at $12,065,000 after buying an additional 600 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Toro Company (The) during the fourth quarter valued at approximately $444,000. Finally, World Asset Management Inc increased its position in shares of Toro Company (The) by 14.6% in the first quarter. World Asset Management Inc now owns 7,595 shares of the company’s stock valued at $474,000 after buying an additional 969 shares during the last quarter. 76.21% of the stock is owned by institutional investors.
About Toro Company (The)
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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