Flagship Harbor Advisors LLC Reduces Holdings in Toro Company (The) (NYSE:TTC)

Flagship Harbor Advisors LLC reduced its position in Toro Company (The) (NYSE:TTC) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,501 shares of the company’s stock after selling 202 shares during the period. Flagship Harbor Advisors LLC’s holdings in Toro were worth $255,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TTC. True Wealth Design LLC lifted its stake in Toro by 127.2% in the fourth quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after buying an additional 206 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Toro by 30.2% in 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. Versant Capital Management Inc increased its holdings in shares of Toro by 81.2% in 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. First Horizon Advisors Inc. raised its position in Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Toro by 60.5% during the 4th quarter. Covestor Ltd now owns 1,181 shares of the company’s stock worth $95,000 after purchasing an additional 445 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TTC has been the topic of a number of recent research reports. Northland Capmk lowered shares of Toro from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 6th. DA Davidson set a $76.00 price target on Toro and gave the company a “neutral” rating in a research report on Monday, June 9th. Robert W. Baird upped their price objective on Toro from $84.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, June 3rd. Wall Street Zen downgraded Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Northland Securities reissued a “market perform” rating and issued a $80.00 target price (down previously from $100.00) on shares of Toro in a report on Friday, June 6th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $82.75.

Insider Buying and Selling at Toro

In other news, Director Gary Lee Ellis sold 5,038 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total transaction of $356,740.78. Following the transaction, the director now directly owns 34,062 shares of the company’s stock, valued at $2,411,930.22. This represents a 12.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Toro Stock Up 0.8%

Shares of NYSE:TTC opened at $71.01 on Friday. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 18.21 and a beta of 0.83. Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $100.93. The firm’s 50-day simple moving average is $71.74 and its 200-day simple moving average is $75.86. The company has a quick ratio of 0.79, a current ratio of 1.81 and a debt-to-equity ratio of 0.73.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 EPS. As a group, equities research analysts predict that Toro Company will post 4.41 earnings per share for the current year.

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.14%. The ex-dividend date is Tuesday, June 17th. Toro’s payout ratio is 38.97%.

Toro Profile

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.