Caisse de depot et placement du Quebec Takes Position in Toro Corp. $TORO

Caisse de depot et placement du Quebec bought a new position in Toro Corp. (NASDAQ:TORO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 383,769 shares of the company’s stock, valued at approximately $37,387,000.

A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Toro during the 2nd quarter worth about $874,436,000. Bank of New York Mellon Corp acquired a new position in Toro in the second quarter valued at about $94,442,000. The Manufacturers Life Insurance Company acquired a new position in Toro in the second quarter valued at about $37,971,000. Man Group plc bought a new stake in Toro during the second quarter worth about $25,173,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Toro during the second quarter worth about $23,721,000. Institutional investors and hedge funds own 1.74% of the company’s stock.

Toro Stock Performance

TORO opened at $6.23 on Friday. Toro Corp. has a 1-year low of $2.64 and a 1-year high of $8.50. The stock has a market capitalization of $133.76 million, a PE ratio of 155.79 and a beta of 2.53. The firm has a 50-day moving average price of $5.31 and a two-hundred day moving average price of $4.81.

Toro (NASDAQ:TORO) last announced its earnings results on Thursday, May 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. Toro had a return on equity of 2.49% and a net margin of 22.67%.The company had revenue of $5.96 million for the quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TORO. Weiss Ratings lowered shares of Toro from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 30th. Wall Street Zen raised Toro to a “hold” rating in a report on Saturday, June 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

About Toro

Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing tanker vessels and provides seaborne transportation services for crude oil LPG, and refined petroleum products worldwide. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, it operated a fleet of one Handysize tanker vessel; one Aframax/LR2 vessel; and four LPG carrier vessels with an aggregate cargo carrying capacity of 0.1 million deadweight ton.