NEXT Financial Group Inc Decreases Stake in Toro Co (TTC)

NEXT Financial Group Inc lowered its position in shares of Toro Co (NYSE:TTC) by 45.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,145 shares of the company’s stock after selling 1,802 shares during the quarter. NEXT Financial Group Inc’s holdings in Toro were worth $129,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC purchased a new position in Toro in the 2nd quarter worth approximately $121,000. Meeder Asset Management Inc. boosted its holdings in Toro by 201.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,450 shares of the company’s stock worth $148,000 after acquiring an additional 1,636 shares during the period. LeJeune Puetz Investment Counsel LLC purchased a new position in Toro in the 2nd quarter worth approximately $175,000. NumerixS Investment Technologies Inc boosted its holdings in Toro by 3,100.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,200 shares of the company’s stock worth $192,000 after acquiring an additional 3,100 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in Toro by 137.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,398 shares of the company’s stock worth $205,000 after acquiring an additional 1,966 shares during the period. Hedge funds and other institutional investors own 76.34% of the company’s stock.

A number of equities analysts have weighed in on TTC shares. ValuEngine upgraded Toro from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Zacks Investment Research cut Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. Finally, Dougherty & Co reiterated a “buy” rating on shares of Toro in a research note on Monday, August 13th.

Toro stock opened at $55.66 on Friday. The company has a market cap of $6.31 billion, a PE ratio of 23.10 and a beta of 0.62. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.71 and a quick ratio of 0.99. Toro Co has a 52 week low of $54.17 and a 52 week high of $67.81.

Toro (NYSE:TTC) last released its earnings results on Thursday, August 23rd. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.02. The company had revenue of $655.80 million during the quarter, compared to analysts’ expectations of $664.75 million. Toro had a return on equity of 46.89% and a net margin of 10.39%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. As a group, analysts forecast that Toro Co will post 2.69 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Wednesday, October 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, October 2nd. Toro’s dividend payout ratio (DPR) is currently 33.20%.

In other news, VP Philip A. Burkart sold 17,000 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $61.09, for a total transaction of $1,038,530.00. Following the completion of the transaction, the vice president now directly owns 168,962 shares in the company, valued at approximately $10,321,888.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Bradley A. Hamilton sold 6,060 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $62.74, for a total value of $380,204.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,326 shares of company stock valued at $3,679,331. Company insiders own 5.32% of the company’s stock.

Toro Company Profile

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.

Further Reading: Closed-End Mutual Funds

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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