Dynamic Capital Management Ltd purchased a new stake in shares of Toro Co (NYSE:TTC) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 27,889 shares of the company’s stock, valued at approximately $1,920,000. Toro comprises about 6.9% of Dynamic Capital Management Ltd’s portfolio, making the stock its 2nd biggest holding.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc boosted its holdings in shares of Toro by 1.3% in the third quarter. Vanguard Group Inc now owns 9,813,887 shares of the company’s stock worth $588,539,000 after buying an additional 125,843 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Toro by 2.0% in the first quarter. BlackRock Inc. now owns 9,758,946 shares of the company’s stock worth $671,805,000 after buying an additional 188,281 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Toro by 3.9% in the first quarter. Neuberger Berman Group LLC now owns 2,857,566 shares of the company’s stock worth $196,715,000 after buying an additional 106,340 shares during the last quarter. Mairs & Power INC boosted its holdings in shares of Toro by 8.1% in the fourth quarter. Mairs & Power INC now owns 2,825,029 shares of the company’s stock worth $157,863,000 after buying an additional 211,965 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Toro by 5,488.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,329,525 shares of the company’s stock worth $42,000 after buying an additional 2,287,837 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:TTC opened at $68.19 on Thursday. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. Toro Co has a 1-year low of $52.97 and a 1-year high of $75.13. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 25.54 and a beta of 0.84.
Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, May 23rd. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.04). Toro had a net margin of 10.62% and a return on equity of 40.99%. The firm had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $987.80 million. During the same period in the prior year, the firm earned $1.20 EPS. Toro’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that Toro Co will post 2.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Tuesday, June 25th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, June 24th. Toro’s dividend payout ratio is currently 33.71%.
In other Toro news, Director Janet Katherine Cooper sold 9,244 shares of Toro stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $67.55, for a total transaction of $624,432.20. Following the transaction, the director now owns 12,453 shares of the company’s stock, valued at $841,200.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Buhrmaster sold 2,000 shares of Toro stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $67.95, for a total transaction of $135,900.00. Following the transaction, the director now directly owns 21,091 shares in the company, valued at approximately $1,433,133.45. The disclosure for this sale can be found here. Insiders have sold 19,185 shares of company stock worth $1,303,622 in the last ninety days. Insiders own 2.36% of the company’s stock.
TTC has been the topic of a number of research reports. ValuEngine raised shares of Toro from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research raised shares of Toro from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. Finally, Sidoti set a $72.00 price target on shares of Toro and gave the company a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Toro has an average rating of “Hold” and a consensus target price of $69.00.
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The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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