LPL Financial LLC Decreases Stock Position in The Toro Company (NYSE:TTC)

Posted by on May 18th, 2023

LPL Financial LLC trimmed its position in shares of The Toro Company (NYSE:TTC – Get Rating) by 15.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,008 shares of the company’s stock after selling 6,411 shares during the quarter. LPL Financial LLC’s holdings in Toro were worth $3,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. IFP Advisors Inc increased its holdings in Toro by 20.0% during the 4th quarter. IFP Advisors Inc now owns 594 shares of the company’s stock worth $40,000 after purchasing an additional 99 shares during the period. Samson Rock Capital LLP purchased a new position in Toro during the 4th quarter valued at about $2,243,000. TD Asset Management Inc raised its holdings in shares of Toro by 13.8% in the 4th quarter. TD Asset Management Inc now owns 135,718 shares of the company’s stock valued at $15,363,000 after purchasing an additional 16,417 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Toro by 1,940.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 107,924 shares of the company’s stock worth $12,217,000 after purchasing an additional 102,636 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in shares of Toro by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 137,342 shares of the company’s stock valued at $15,547,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 85.14% of the company’s stock.

Toro Stock Up 1.7 %

Toro stock opened at $104.41 on Thursday. The business’s 50-day simple moving average is $106.06 and its two-hundred day simple moving average is $109.58. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.63 and a current ratio of 1.78. The company has a market cap of $10.89 billion, a PE ratio of 22.90 and a beta of 0.72. The Toro Company has a fifty-two week low of $71.86 and a fifty-two week high of $117.66.

Toro (NYSE:TTC – Get Rating) last issued its earnings results on Thursday, March 9th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Toro had a return on equity of 36.04% and a net margin of 10.16%. Toro’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Equities analysts anticipate that The Toro Company will post 4.83 EPS for the current year.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 19th. Shareholders of record on Thursday, April 6th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, April 5th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.30%. Toro’s payout ratio is currently 29.82%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TTC. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Northland Securities assumed coverage on Toro in a report on Monday, April 17th. They set a “market perform” rating and a $110.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.67.

Insider Transactions at Toro

In other Toro news, CEO Richard M. Olson sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $109.40, for a total value of $1,312,800.00. Following the sale, the chief executive officer now owns 17,913 shares in the company, valued at approximately $1,959,682.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Toro news, VP Daryn A. Walters bought 910 shares of Toro stock in a transaction dated Thursday, March 30th. The stock was acquired at an average cost of $110.05 per share, with a total value of $100,145.50. Following the purchase, the vice president now directly owns 1,740 shares in the company, valued at approximately $191,487. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard M. Olson sold 12,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $109.40, for a total value of $1,312,800.00. Following the transaction, the chief executive officer now owns 17,913 shares in the company, valued at approximately $1,959,682.20. The disclosure for this sale can be found here. Insiders have sold 59,634 shares of company stock worth $6,516,758 over the last quarter. 2.22% of the stock is currently owned by insiders.

About Toro

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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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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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