Summit Global Investments increased its holdings in Toro Co (NYSE:TTC) by 24.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 216,645 shares of the company’s stock after purchasing an additional 42,324 shares during the quarter. Toro accounts for about 1.9% of Summit Global Investments’ holdings, making the stock its 6th largest holding. Summit Global Investments’ holdings in Toro were worth $14,914,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. purchased a new stake in Toro during the 1st quarter worth approximately $25,000. Trustcore Financial Services LLC purchased a new stake in Toro during the 1st quarter worth approximately $34,000. Riverview Trust Co purchased a new stake in Toro during the 4th quarter worth approximately $35,000. Quadrant Capital Group LLC increased its stake in Toro by 2,058.8% during the 1st quarter. Quadrant Capital Group LLC now owns 734 shares of the company’s stock worth $49,000 after buying an additional 700 shares in the last quarter. Finally, Liberty Wealth Management LLC purchased a new stake in Toro during the 4th quarter worth approximately $49,000. 81.54% of the stock is owned by institutional investors.
TTC has been the subject of several research reports. ValuEngine upgraded Toro from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Zacks Investment Research upgraded Toro from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Finally, Sidoti set a $72.00 price target on Toro and gave the company a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $69.00.
Shares of TTC stock traded down $0.32 during trading hours on Friday, reaching $68.05. The company had a trading volume of 51,755 shares, compared to its average volume of 473,627. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.51 and a quick ratio of 0.78. The firm has a market capitalization of $7.26 billion, a PE ratio of 25.49 and a beta of 0.84. Toro Co has a 12-month low of $52.97 and a 12-month high of $75.13.
Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, May 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The company had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $987.80 million. Toro had a net margin of 10.62% and a return on equity of 40.99%. Toro’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. On average, equities research analysts expect that Toro Co will post 2.93 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Tuesday, June 25th will be given a $0.225 dividend. The ex-dividend date is Monday, June 24th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. Toro’s dividend payout ratio (DPR) is presently 33.71%.
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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