Toro Co (TTC) Stake Lowered by American Century Companies Inc.

American Century Companies Inc. trimmed its position in shares of Toro Co (NYSE:TTC) by 53.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 546,064 shares of the company’s stock after selling 629,138 shares during the period. American Century Companies Inc. owned about 0.52% of Toro worth $32,900,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Toro by 164.2% during the first quarter. Parallel Advisors LLC now owns 1,617 shares of the company’s stock valued at $101,000 after acquiring an additional 1,005 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Toro by 201.0% during the second quarter. Meeder Asset Management Inc. now owns 2,450 shares of the company’s stock valued at $148,000 after acquiring an additional 1,636 shares during the last quarter. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Toro during the second quarter valued at about $175,000. Rockland Trust Co. bought a new position in shares of Toro during the second quarter valued at about $208,000. Finally, Eagle Boston Investment Management Inc. bought a new position in shares of Toro during the first quarter valued at about $225,000. 76.33% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Gary Lee Ellis sold 13,348 shares of the business’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $60.08, for a total transaction of $801,947.84. Following the transaction, the director now owns 41,092 shares in the company, valued at $2,468,807.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Darren L. Redetzke sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the vice president now owns 13,065 shares in the company, valued at approximately $783,900. The disclosure for this sale can be found here. Insiders have sold 22,084 shares of company stock worth $1,328,960 in the last quarter. 5.32% of the stock is owned by corporate insiders.

Shares of NYSE TTC opened at $61.09 on Tuesday. Toro Co has a 1 year low of $56.60 and a 1 year high of $67.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.71. The stock has a market cap of $6.28 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.22 and a beta of 0.55.

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

Several brokerages have recently commented on TTC. ValuEngine raised shares of Toro from a “sell” rating to a “hold” rating in a research note on Tuesday. Dougherty & Co reaffirmed a “buy” rating on shares of Toro in a research note on Monday, August 13th. Zacks Investment Research upgraded shares of Toro from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. Finally, Cleveland Research cut shares of Toro from a “buy” rating to a “neutral” rating in a research report on Monday, May 14th.

About Toro

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: Market Capitalization in the Stock Market

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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