Toro Co. (NYSE:TTC) declared a quarterly dividend on Tuesday, September 20th. Shareholders of record on Monday, October 3rd will be given a dividend of 0.15 per share on Friday, October 14th. This represents a $0.60 annualized dividend and a yield of 1.28%.

Several equities analysts have weighed in on TTC shares. Seaport Global Securities started coverage on Toro in a research report on Tuesday, May 24th. They issued a “neutral” rating and a $43.50 target price for the company. Zacks Investment Research upgraded Toro from a “sell” rating to a “hold” rating in a research note on Saturday, September 3rd. Sidoti cut Toro from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Friday, June 10th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Toro in a research note on Thursday, June 30th. Five analysts have rated the stock with a hold rating, Toro currently has a consensus rating of “Hold” and an average price target of C$45.67.

In related news, VP William E. Brown, Jr. sold 6,000 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of C$98.34, for a total transaction of C$590,040.00. Following the transaction, the vice president now directly owns 93,469 shares in the company, valued at C$9,191,741.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Hoffman sold 125,600 shares of the stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of C$86.46, for a total value of C$10,859,376.00. The disclosure for this sale can be found here. Corporate insiders own 5.94% of the company’s stock.

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A number of institutional investors have recently added to or reduced their stakes in TTC. BlackRock Fund Advisors raised its stake in shares of Toro by 5.1% in the second quarter. BlackRock Fund Advisors now owns 1,951,413 shares of the company’s stock valued at $172,115,000 after buying an additional 95,281 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Toro by 2.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,631,190 shares of the company’s stock valued at $143,871,000 after buying an additional 41,342 shares in the last quarter. State Street Corp raised its stake in shares of Toro by 0.9% in the second quarter. State Street Corp now owns 1,506,748 shares of the company’s stock valued at $132,896,000 after buying an additional 13,809 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Toro by 12.6% in the second quarter. Janus Capital Management LLC now owns 689,282 shares of the company’s stock valued at $60,795,000 after buying an additional 77,036 shares in the last quarter. Finally, King Luther Capital Management Corp raised its stake in shares of Toro by 2.5% in the second quarter. King Luther Capital Management Corp now owns 273,160 shares of the company’s stock valued at $24,093,000 after buying an additional 6,685 shares in the last quarter. Hedge funds and other institutional investors own 74.89% of the company’s stock.

Shares of Toro (NYSE:TTC) traded down 0.38% during trading on Tuesday, hitting $46.98. The stock had a trading volume of 1,177,340 shares. The stock has a 50-day moving average of $47.59 and a 200 day moving average of $44.72. Toro has a 12-month low of $32.35 and a 12-month high of $49.50. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 23.54 and a beta of 0.57.

Toro (NYSE:TTC) last released its earnings results on Thursday, August 18th. The company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.01. Toro had a return on equity of 43.50% and a net margin of 9.33%. The firm had revenue of $601 million for the quarter, compared to the consensus estimate of $623.79 million. During the same period in the prior year, the business posted $0.94 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts predict that Toro will post $4.02 earnings per share for the current fiscal year.

About Toro

The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.

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