Sciencast Management LP acquired a new stake in Toro Co (NYSE:TTC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 8,577 shares of the company’s stock, valued at approximately $564,000.
Other hedge funds have also added to or reduced their stakes in the company. Aptus Capital Advisors LLC grew its position in Toro by 1.2% in the second quarter. Aptus Capital Advisors LLC now owns 12,221 shares of the company’s stock valued at $811,000 after purchasing an additional 142 shares in the last quarter. Contravisory Investment Management Inc. grew its position in Toro by 9.3% in the first quarter. Contravisory Investment Management Inc. now owns 2,078 shares of the company’s stock valued at $135,000 after purchasing an additional 176 shares in the last quarter. Brinker Capital Inc. grew its position in Toro by 0.9% in the first quarter. Brinker Capital Inc. now owns 24,258 shares of the company’s stock valued at $1,580,000 after purchasing an additional 209 shares in the last quarter. MAI Capital Management grew its position in Toro by 1.6% in the first quarter. MAI Capital Management now owns 19,330 shares of the company’s stock valued at $1,258,000 after purchasing an additional 301 shares in the last quarter. Finally, Pinz Capital Management LP bought a new position in Toro in the first quarter valued at $26,000. 82.06% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Toro from a “hold” rating to a “sell” rating in a research report on Tuesday, June 2nd. Northcoast Research reissued a “neutral” rating on shares of Toro in a research report on Wednesday, June 3rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Toro has a consensus rating of “Hold” and a consensus price target of $77.00.
Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). Toro had a return on equity of 34.60% and a net margin of 8.18%. The business had revenue of $929.40 million during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $1.17 EPS. Toro’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, analysts predict that Toro Co will post 2.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Friday, June 19th. Toro’s dividend payout ratio (DPR) is 33.33%.
In other news, Director Jeffrey M. Ettinger sold 1,796 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $72.83, for a total value of $130,802.68. Following the completion of the transaction, the director now directly owns 50,683 shares in the company, valued at approximately $3,691,242.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard M. Olson sold 6,057 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $72.44, for a total transaction of $438,769.08. Following the completion of the transaction, the chief executive officer now owns 21,106 shares of the company’s stock, valued at $1,528,918.64. The disclosure for this sale can be found here. Insiders sold a total of 22,097 shares of company stock valued at $1,561,884 in the last quarter. Corporate insiders own 1.77% of the company’s stock.
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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