Toro Company (The) (NYSE:TTC) Shares Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC increased its holdings in shares of Toro Company (The) (NYSE:TTCFree Report) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,866 shares of the company’s stock after purchasing an additional 240 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Toro were worth $209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after acquiring an additional 206 shares during the period. Venturi Wealth Management LLC boosted its holdings in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after acquiring an additional 362 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock valued at $43,000 after acquiring an additional 127 shares during the period. First Horizon Advisors Inc. boosted its holdings in Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after acquiring an additional 285 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Toro by 81.2% during the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company’s stock valued at $63,000 after acquiring an additional 389 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Northland Securities reiterated a “market perform” rating and issued a $80.00 price objective (down previously from $100.00) on shares of Toro in a research note on Friday, June 6th. Raymond James Financial decreased their price objective on Toro from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, June 6th. Wall Street Zen cut Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Northland Capmk cut Toro from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 6th. Finally, DA Davidson set a $76.00 target price on Toro and gave the stock a “neutral” rating in a research note on Monday, June 9th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $82.75.

Read Our Latest Stock Report on TTC

Toro Stock Up 0.2%

Toro stock opened at $69.45 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. The company has a market cap of $6.85 billion, a PE ratio of 17.81 and a beta of 0.83. The stock’s 50 day moving average price is $71.48 and its 200 day moving average price is $76.30.

Toro (NYSE:TTCGet Free Report) last posted its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. Toro had a return on equity of 27.99% and a net margin of 8.77%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned $1.40 earnings per share. Toro’s revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Toro Company will post 4.41 EPS for the current fiscal year.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be given a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 annualized dividend and a dividend yield of 2.19%. Toro’s dividend payout ratio is currently 38.97%.

Insider Activity

In related news, Director Gary Lee Ellis sold 5,038 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the transaction, the director now directly owns 34,062 shares in the company, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.

Toro Company Profile

(Free Report)

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, 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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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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