Sonen Capital LLC Invests $256,000 in The Toro Company (NYSE:TTC)

Sonen Capital LLC acquired a new stake in shares of The Toro Company (NYSE:TTC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,664 shares of the company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TTC. Envestnet Asset Management Inc. lifted its holdings in shares of Toro by 24.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 128,430 shares of the company’s stock valued at $10,673,000 after buying an additional 25,228 shares during the period. Parsons Capital Management Inc. RI bought a new position in Toro in the fourth quarter valued at about $2,304,000. Raymond James & Associates boosted its position in Toro by 23.3% in the fourth quarter. Raymond James & Associates now owns 265,204 shares of the company’s stock worth $25,457,000 after purchasing an additional 50,105 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Toro by 8.9% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 130,375 shares of the company’s stock valued at $10,834,000 after purchasing an additional 10,616 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Toro by 15.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 42,813 shares of the company’s stock valued at $3,558,000 after purchasing an additional 5,612 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gary Lee Ellis sold 5,192 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $88.75, for a total value of $460,790.00. Following the completion of the transaction, the director now directly owns 33,051 shares of the company’s stock, valued at $2,933,276.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Gary Lee Ellis sold 5,192 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.75, for a total value of $460,790.00. Following the completion of the transaction, the director now owns 33,051 shares of the company’s stock, valued at approximately $2,933,276.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Edric C. Funk sold 615 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $89.57, for a total value of $55,085.55. Following the sale, the vice president now directly owns 1,049 shares in the company, valued at $93,958.93. The disclosure for this sale can be found here. Corporate insiders own 1.62% of the company’s stock.

Toro Stock Performance

NYSE TTC opened at $87.50 on Friday. The business has a 50-day moving average price of $89.32 and a 200-day moving average price of $88.96. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 31.93 and a beta of 0.72. The Toro Company has a twelve month low of $78.35 and a twelve month high of $108.50. The company has a quick ratio of 0.86, a current ratio of 2.13 and a debt-to-equity ratio of 0.76.

Toro (NYSE:TTC) last issued its earnings results on Thursday, March 7th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. Toro had a return on equity of 26.66% and a net margin of 6.53%. Toro’s revenue was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, equities research analysts predict that The Toro Company will post 4.3 EPS for the current fiscal year.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were given a $0.36 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.65%. Toro’s dividend payout ratio is currently 52.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. DA Davidson raised their price objective on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. TheStreet raised shares of Toro from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th. Finally, StockNews.com downgraded Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $105.60.

Toro Company 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.