Rhumbline Advisers decreased its holdings in Toro Co (NYSE:TTC) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 248,962 shares of the company’s stock after selling 2,787 shares during the period. Rhumbline Advisers owned approximately 0.24% of Toro worth $15,000,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Federated Investors Inc. PA grew its stake in shares of Toro by 1.6% in the 1st quarter. Federated Investors Inc. PA now owns 57,637 shares of the company’s stock valued at $3,600,000 after buying an additional 920 shares during the period. Parallel Advisors LLC grew its stake in shares of Toro by 164.2% in the 1st quarter. Parallel Advisors LLC now owns 1,617 shares of the company’s stock valued at $101,000 after buying an additional 1,005 shares during the period. JLB & Associates Inc. grew its stake in shares of Toro by 0.6% in the 2nd quarter. JLB & Associates Inc. now owns 208,885 shares of the company’s stock valued at $12,585,000 after buying an additional 1,223 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Toro by 4.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 28,214 shares of the company’s stock valued at $1,762,000 after buying an additional 1,226 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Toro by 6.4% in the 1st quarter. Amalgamated Bank now owns 23,621 shares of the company’s stock valued at $1,475,000 after buying an additional 1,419 shares during the period. Institutional investors own 75.66% of the company’s stock.
Toro stock opened at $60.09 on Tuesday. Toro Co has a 1-year low of $56.60 and a 1-year high of $71.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.50 and a quick ratio of 0.89. The company has a market capitalization of $6.31 billion, a PE ratio of 23.05, a PEG ratio of 2.21 and a beta of 0.55.
Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, May 24th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.02. Toro had a net margin of 10.08% and a return on equity of 45.89%. The business had revenue of $875.30 million during the quarter, compared to analysts’ expectations of $901.26 million. During the same quarter in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. equities analysts forecast that Toro Co will post 2.71 earnings per share for the current fiscal year.
Several analysts have recently weighed in on TTC shares. Zacks Investment Research cut shares of Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Cleveland Research cut shares of Toro from a “buy” rating to a “neutral” rating in a research note on Monday, May 14th. ValuEngine raised shares of Toro from a “sell” rating to a “hold” rating in a research note on Thursday, May 24th. Finally, Dougherty & Co raised shares of Toro from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, June 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Toro presently has a consensus rating of “Hold” and a consensus target price of $70.67.
In related news, Director Gary Lee Ellis sold 13,348 shares of the stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $60.08, for a total transaction of $801,947.84. Following the completion of the transaction, the director now owns 41,092 shares of the company’s stock, valued at approximately $2,468,807.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Darren L. Redetzke sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the vice president now directly owns 13,065 shares of the company’s stock, valued at approximately $783,900. The disclosure for this sale can be found here. Insiders have sold a total of 22,084 shares of company stock valued at $1,328,960 in the last ninety days. 5.32% of the stock is currently owned by corporate insiders.
The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.
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