US Bancorp DE increased its position in Toro Co (NYSE:TTC) by 63.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,051 shares of the company’s stock after acquiring an additional 48,371 shares during the period. US Bancorp DE owned about 0.12% of Toro worth $7,499,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SRS Capital Advisors Inc. raised its holdings in Toro by 37.5% in the 2nd quarter. SRS Capital Advisors Inc. now owns 3,852 shares of the company’s stock worth $232,000 after acquiring an additional 1,050 shares during the last quarter. Arizona State Retirement System raised its holdings in Toro by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 74,693 shares of the company’s stock worth $4,479,000 after acquiring an additional 1,086 shares during the last quarter. TD Asset Management Inc. raised its stake in Toro by 1.4% during the 2nd quarter. TD Asset Management Inc. now owns 111,462 shares of the company’s stock valued at $6,716,000 after buying an additional 1,500 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Toro by 201.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,450 shares of the company’s stock valued at $148,000 after buying an additional 1,636 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Toro by 137.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,398 shares of the company’s stock valued at $205,000 after buying an additional 1,966 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.
In other news, VP Philip A. Burkart sold 17,000 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $61.09, for a total transaction of $1,038,530.00. Following the completion of the sale, the vice president now owns 168,962 shares of the company’s stock, valued at approximately $10,321,888.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Amy E. Dahl sold 2,690 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $60.76, for a total transaction of $163,444.40. Following the sale, the vice president now directly owns 11,614 shares of the company’s stock, valued at approximately $705,666.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,326 shares of company stock valued at $3,679,331. Company insiders own 5.69% of the company’s stock.
Shares of TTC opened at $60.55 on Friday. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 25.12 and a beta of 0.62. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.48. Toro Co has a 1-year low of $53.80 and a 1-year high of $67.81.
Toro (NYSE:TTC) last announced its earnings results on Thursday, August 23rd. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $655.80 million during the quarter, compared to analyst estimates of $664.75 million. Toro had a net margin of 10.39% and a return on equity of 46.89%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. Sell-side analysts expect that Toro Co will post 2.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Wednesday, October 3rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.32%. Toro’s dividend payout ratio is presently 33.20%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Toro from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. ValuEngine upgraded shares of Toro from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Dougherty & Co reiterated a “buy” rating on shares of Toro in a research note on Monday, August 13th.
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.
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