Norway Savings Bank acquired a new stake in The Toro Company (NYSE:TTC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 400 shares of the company’s stock, valued at approximately $34,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Rockbridge Investment Management LCC purchased a new stake in The Toro in the 2nd quarter valued at approximately $31,000. Cerebellum GP LLC purchased a new stake in The Toro in the 2nd quarter valued at approximately $31,000. Canada Pension Plan Investment Board purchased a new stake in The Toro in the 1st quarter valued at approximately $48,000. Campbell Wealth Management purchased a new stake in The Toro in the 2nd quarter valued at approximately $53,000. Finally, Ellevest Inc. purchased a new stake in The Toro in the 2nd quarter valued at approximately $76,000. 81.77% of the stock is currently owned by institutional investors.
Shares of NYSE:TTC opened at $86.48 on Friday. The business’s 50 day simple moving average is $82.66 and its 200-day simple moving average is $71.39. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 2.87 and a beta of 0.78. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.74 and a quick ratio of 0.91. The Toro Company has a 12 month low of $52.07 and a 12 month high of $88.96.
The Toro (NYSE:TTC) last posted its earnings results on Thursday, September 3rd. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The Toro had a return on equity of 32.58% and a net margin of 9.04%. The firm had revenue of $841.00 million for the quarter, compared to analyst estimates of $772.58 million. During the same quarter in the prior year, the company earned $0.83 EPS. The Toro’s revenue was up .3% on a year-over-year basis. On average, equities analysts anticipate that The Toro Company will post 2.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Monday, September 28th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, September 25th. The Toro’s payout ratio is currently 33.33%.
A number of brokerages have weighed in on TTC. Robert W. Baird raised The Toro from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $88.00 in a report on Friday, September 4th. Raymond James reissued a “hold” rating on shares of The Toro in a research note on Thursday, September 3rd. Colliers Secur. reissued a “neutral” rating on shares of The Toro in a research note on Friday, September 4th. Finally, Zacks Investment Research raised The Toro from a “sell” rating to a “hold” rating in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $82.00.
In related news, VP Blake M. Grams sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $83.99, for a total value of $461,945.00. Following the sale, the vice president now owns 5,500 shares of the company’s stock, valued at approximately $461,945. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Kurt D. Svendsen sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $84.34, for a total value of $421,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,145 shares of company stock worth $8,783,617. 1.77% of the stock is owned by corporate insiders.
The Toro Company Profile
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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