The Toro Company (NYSE:TTC – Get Rating) was the target of some unusual options trading on Wednesday. Investors purchased 1,176 put options on the company. This represents an increase of 1,709% compared to the average volume of 65 put options.
Insider Activity
In other news, CFO Renee J. Peterson sold 25,000 shares of Toro stock in a transaction on Friday, January 6th. The stock was sold at an average price of $112.72, for a total value of $2,818,000.00. Following the transaction, the chief financial officer now directly owns 15,318 shares in the company, valued at approximately $1,726,644.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Renee J. Peterson sold 25,000 shares of the firm’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $112.72, for a total value of $2,818,000.00. Following the completion of the sale, the chief financial officer now owns 15,318 shares of the company’s stock, valued at approximately $1,726,644.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard W. Rodier sold 3,000 shares of the firm’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $112.72, for a total value of $338,160.00. Following the completion of the sale, the vice president now directly owns 23,737 shares of the company’s stock, valued at approximately $2,675,634.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,064 shares of company stock worth $9,723,064. 2.22% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Toro
Institutional investors and hedge funds have recently modified their holdings of the stock. Coston McIsaac & Partners acquired a new position in shares of Toro in the 2nd quarter valued at about $26,000. Allworth Financial LP lifted its holdings in shares of Toro by 90.4% in the 3rd quarter. Allworth Financial LP now owns 316 shares of the company’s stock valued at $27,000 after buying an additional 150 shares during the period. Fred Alger Management LLC acquired a new position in shares of Toro in the 4th quarter valued at about $29,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Toro by 266.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 344 shares of the company’s stock valued at $30,000 after buying an additional 250 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in shares of Toro by 294.6% in the 4th quarter. Lindbrook Capital LLC now owns 292 shares of the company’s stock valued at $33,000 after buying an additional 218 shares during the period. Institutional investors and hedge funds own 85.14% of the company’s stock.
Toro Stock Performance
Toro (NYSE:TTC – Get Rating) last issued its quarterly earnings results on Thursday, March 9th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. Toro had a return on equity of 36.04% and a net margin of 10.16%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts predict that Toro will post 4.9 EPS for the current year.
Toro Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 19th. Stockholders of record on Thursday, April 6th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $1.36 annualized dividend and a dividend yield of 1.34%. Toro’s dividend payout ratio (DPR) is presently 29.82%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on TTC shares. Robert W. Baird lowered their price objective on Toro from $120.00 to $116.00 in a research report on Thursday, December 22nd. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research report on Thursday, March 23rd. Finally, Raymond James raised Toro from a “market perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research report on Friday, December 23rd.
About Toro
The Toro Co is in the business of designing, manufacturing, marketing, and selling professional turf maintenance equipment and services. It operates through the following segments: Professional and Residential. The Professional segment consists of turf and landscape equipment, rental, specialty, and underground construction equipment, snow & ice management equipment, and irrigation and lighting products.
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