Covestor Ltd Increases Position in The Toro Company (NYSE:TTC)

Covestor Ltd lifted its position in shares of The Toro Company (NYSE:TTC) by 522.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 716 shares of the company’s stock after buying an additional 601 shares during the period. Covestor Ltd’s holdings in Toro were worth $66,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Cynosure Group LLC purchased a new position in Toro during the first quarter worth approximately $321,000. Vanguard Group Inc. raised its stake in Toro by 0.7% during the first quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock worth $968,083,000 after purchasing an additional 73,719 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in Toro by 4.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 141,730 shares of the company’s stock worth $12,987,000 after purchasing an additional 6,350 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Toro by 27.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 54,458 shares of the company’s stock worth $4,990,000 after purchasing an additional 11,661 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in Toro by 2.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 118,264 shares of the company’s stock worth $10,837,000 after purchasing an additional 3,215 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird increased their price target on shares of Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.75.

Toro Price Performance

TTC opened at $95.47 on Thursday. The company has a fifty day simple moving average of $90.65 and a 200 day simple moving average of $90.53. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 37.74 and a beta of 0.69. The Toro Company has a twelve month low of $77.15 and a twelve month high of $104.70. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, June 6th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The business had revenue of $1.35 billion during 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%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $1.58 EPS. Equities research analysts expect that The Toro Company will post 4.32 EPS for the current fiscal year.

Toro Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Tuesday, June 18th. Toro’s payout ratio is 56.92%.

Insiders Place Their Bets

In other Toro news, CEO Richard M. Olson sold 20,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at approximately $1,705,138.47. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.62% of the stock is owned by company insiders.

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.