Handelsinvest Investeringsforvaltning Sells 1,468 Shares of The Toro Company (NYSE:TTC)

Handelsinvest Investeringsforvaltning cut its holdings in The Toro Company (NYSE:TTC) by 34.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,827 shares of the company’s stock after selling 1,468 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Toro were worth $259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTC. Orion Capital Management LLC bought a new position in Toro in the 3rd quarter valued at approximately $25,000. VisionPoint Advisory Group LLC raised its stake in Toro by 135.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock valued at $25,000 after buying an additional 174 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in Toro during the 4th quarter valued at $26,000. Rise Advisors LLC raised its stake in Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 288 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Toro during the 4th quarter valued at $42,000. 87.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TTC shares. StockNews.com lowered Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Robert W. Baird upped their target price on shares of Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Finally, DA Davidson upped their target price on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.75.

Insider Activity at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of Toro stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at $1,705,138.47. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.62% of the stock is currently owned by corporate insiders.

Toro Trading Down 0.0 %

Shares of NYSE:TTC traded down $0.01 during trading on Wednesday, reaching $90.87. 14,085 shares of the company were exchanged, compared to its average volume of 896,246. The firm has a market capitalization of $9.44 billion, a PE ratio of 35.92 and a beta of 0.69. The business’s fifty day simple moving average is $89.02 and its 200-day simple moving average is $90.69. The Toro Company has a 12-month low of $77.15 and a 12-month high of $106.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87.

Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, June 6th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Toro had a net margin of 6.00% and a return on equity of 25.04%. Toro’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $1.58 earnings per share. On average, research analysts anticipate that The Toro Company will post 4.33 EPS for the current year.

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 18th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, June 18th. Toro’s payout ratio is 56.92%.

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.