Los Angeles Capital Management & Equity Research Inc. Raises Position in Toro Co (TTC)

Los Angeles Capital Management & Equity Research Inc. increased its holdings in Toro Co (NYSE:TTC) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,306 shares of the company’s stock after acquiring an additional 3,475 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.29% of Toro worth $18,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in shares of Toro by 39.1% during the 3rd quarter. Wells Fargo & Company MN now owns 810,277 shares of the company’s stock valued at $48,592,000 after acquiring an additional 227,864 shares during the last quarter. Tdam USA Inc. boosted its holdings in shares of Toro by 13.0% during the 3rd quarter. Tdam USA Inc. now owns 41,990 shares of the company’s stock valued at $2,518,000 after acquiring an additional 4,825 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in shares of Toro by 1.1% during the 3rd quarter. Copeland Capital Management LLC now owns 120,471 shares of the company’s stock valued at $7,225,000 after acquiring an additional 1,301 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Toro by 31.4% during the 3rd quarter. Victory Capital Management Inc. now owns 70,439 shares of the company’s stock valued at $4,224,000 after acquiring an additional 16,823 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Toro by 63.1% during the 3rd quarter. US Bancorp DE now owns 125,051 shares of the company’s stock valued at $7,499,000 after acquiring an additional 48,371 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

TTC opened at $60.55 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $6.41 billion, a P/E ratio of 22.83 and a beta of 0.62. Toro Co has a 12-month low of $53.80 and a 12-month high of $67.81.

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

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Investors of record on Wednesday, October 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Tuesday, October 2nd. Toro’s payout ratio is 33.20%.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Toro from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. ValuEngine raised shares of Toro from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Finally, Dougherty & Co reaffirmed a “buy” rating on shares of Toro in a report on Monday, August 13th.

In related news, VP William E. Brown, Jr. sold 5,768 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $62.51, for a total value of $360,557.68. Following the transaction, the vice president now owns 185,817 shares of the company’s stock, valued at $11,615,420.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Philip A. Burkart sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $61.09, for a total transaction of $1,038,530.00. Following the completion of the transaction, the vice president now directly owns 168,962 shares in the company, valued at approximately $10,321,888.58. The disclosure for this sale can be found here. In the last three months, insiders sold 60,326 shares of company stock worth $3,679,331. 5.69% of the stock is currently owned by insiders.

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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.

Further Reading: Diversification Important in Investing

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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