William Blair Investment Management LLC raised its position in Toro Co (NYSE:TTC) by 317.7% during the first quarter, Holdings Channel reports. The institutional investor owned 143,207 shares of the company’s stock after buying an additional 108,926 shares during the quarter. William Blair Investment Management LLC’s holdings in Toro were worth $9,321,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. GQ Asset Management LLC bought a new position in Toro in the 1st quarter valued at $33,000. Cedar Mountain Advisors LLC bought a new position in Toro in the 4th quarter valued at $34,000. BerganKDV Wealth Management LLC bought a new position in Toro in the 4th quarter valued at $35,000. Citizens Financial Group Inc RI acquired a new position in shares of Toro in the 4th quarter valued at $36,000. Finally, Synovus Financial Corp lifted its stake in shares of Toro by 1,687.8% in the 1st quarter. Synovus Financial Corp now owns 733 shares of the company’s stock valued at $48,000 after purchasing an additional 692 shares during the period. Hedge funds and other institutional investors own 81.40% of the company’s stock.
TTC stock opened at $67.64 on Friday. The business’s fifty day moving average is $63.66 and its 200-day moving average is $73.79. The company has a quick ratio of 0.58, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.26 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 2.02 and a beta of 0.70. Toro Co has a twelve month low of $52.07 and a twelve month high of $84.26.
Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, March 5th. The company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. The company had revenue of $767.48 million for the quarter, compared to the consensus estimate of $788.32 million. Toro had a return on equity of 39.44% and a net margin of 8.62%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 EPS. Research analysts anticipate that Toro Co will post 3.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, June 19th. Toro’s dividend payout ratio (DPR) is presently 33.33%.
Separately, Zacks Investment Research downgraded Toro from a “buy” rating to a “hold” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $72.33.
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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