Connecticut Wealth Management LLC Purchases New Holdings in The Toro Company (NYSE:TTC)

Connecticut Wealth Management LLC purchased a new stake in The Toro Company (NYSE:TTC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,647 shares of the company’s stock, valued at approximately $254,000.

Several other hedge funds have also made changes to their positions in TTC. Values First Advisors Inc. grew its stake in Toro by 0.6% in the 4th quarter. Values First Advisors Inc. now owns 17,216 shares of the company’s stock valued at $1,653,000 after buying an additional 110 shares during the last quarter. Fiera Capital Corp grew its position in Toro by 2.7% in the 3rd quarter. Fiera Capital Corp now owns 5,030 shares of the company’s stock worth $418,000 after purchasing an additional 130 shares during the last quarter. Natixis Advisors L.P. grew its position in Toro by 0.5% in the 4th quarter. Natixis Advisors L.P. now owns 25,092 shares of the company’s stock worth $2,408,000 after purchasing an additional 137 shares during the last quarter. Fifth Third Bancorp grew its position in Toro by 30.2% in the 4th quarter. Fifth Third Bancorp now owns 621 shares of the company’s stock worth $60,000 after purchasing an additional 144 shares during the last quarter. Finally, PrairieView Partners LLC grew its position in Toro by 13.5% in the 4th quarter. PrairieView Partners LLC now owns 1,345 shares of the company’s stock worth $129,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Insider Activity at Toro

In other news, Director Gary Lee Ellis sold 5,192 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the transaction, the director now directly owns 33,051 shares in the company, valued at $2,933,276.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Edric C. Funk sold 615 shares of Toro stock in a transaction on Friday, March 15th. The stock was sold at an average price of $89.57, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Lee Ellis sold 5,192 shares of the business’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 sale, the director now owns 33,051 shares in the company, valued at $2,933,276.25. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by insiders.

Toro Stock Performance

NYSE TTC traded up $0.97 on Monday, hitting $89.28. 269,713 shares of the stock were exchanged, compared to its average volume of 708,613. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 0.86. The business’s fifty day moving average is $88.76 and its 200 day moving average is $89.05. The Toro Company has a 52 week low of $78.35 and a 52 week high of $108.50. The company has a market capitalization of $9.32 billion, a PE ratio of 32.23 and a beta of 0.72.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Toro had a net margin of 6.53% and a return on equity of 26.66%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Toro’s revenue for the quarter was down 12.8% on a year-over-year basis. Research analysts anticipate that The Toro Company will post 4.3 EPS for the current fiscal year.

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.61%. The ex-dividend date was Thursday, March 28th. Toro’s dividend payout ratio (DPR) is presently 52.55%.

Wall Street Analyst Weigh In

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

About Toro

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.