GW&K Investment Management LLC grew its position in Toro Co (NYSE:TTC) by 13.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 601,834 shares of the company’s stock after buying an additional 70,922 shares during the quarter. GW&K Investment Management LLC owned 0.56% of Toro worth $44,115,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of TTC. FMR LLC grew its stake in shares of Toro by 105.2% in the first quarter. FMR LLC now owns 724,513 shares of the company’s stock valued at $49,875,000 after buying an additional 371,518 shares in the last quarter. Chilton Investment Co. LLC grew its stake in Toro by 1,032.4% during the 2nd quarter. Chilton Investment Co. LLC now owns 341,783 shares of the company’s stock worth $22,865,000 after purchasing an additional 311,601 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Toro by 6,531.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 309,104 shares of the company’s stock worth $20,679,000 after purchasing an additional 304,443 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Toro during the 2nd quarter worth $17,909,000. Finally, Envestnet Asset Management Inc. grew its stake in Toro by 82.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 573,583 shares of the company’s stock worth $38,373,000 after purchasing an additional 259,955 shares in the last quarter. 82.33% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Renee J. Peterson sold 78,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.05, for a total value of $5,775,900.00. Following the completion of the sale, the chief financial officer now directly owns 9,682 shares of the company’s stock, valued at approximately $716,952.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bradley A. Hamilton sold 6,680 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.00, for a total value of $480,960.00. Following the completion of the sale, the vice president now directly owns 5,191 shares of the company’s stock, valued at $373,752. The disclosure for this sale can be found here. Insiders sold a total of 92,420 shares of company stock valued at $6,825,905 over the last three months. Company insiders own 2.36% of the company’s stock.
NYSE TTC traded up $0.13 during trading on Friday, reaching $77.62. 127,040 shares of the company’s stock were exchanged, compared to its average volume of 429,006. The stock has a market cap of $8.27 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.67 and a current ratio of 1.49. The company has a 50 day moving average price of $74.03 and a two-hundred day moving average price of $71.43. Toro Co has a 1 year low of $52.97 and a 1 year high of $78.73.
Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.10. The company had revenue of $838.71 million during the quarter, compared to the consensus estimate of $876.33 million. Toro had a return on equity of 40.52% and a net margin of 9.34%. Toro’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. Research analysts forecast that Toro Co will post 2.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, September 27th. Toro’s payout ratio is currently 33.71%.
Several research analysts recently commented on TTC shares. Dougherty & Co started coverage on Toro in a research note on Wednesday, August 28th. They set a “neutral” rating for the company. ValuEngine cut Toro from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Finally, Zacks Investment Research cut Toro from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $71.00.
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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