Creative Planning Acquires 1,683 Shares of The Toro Company (NYSE:TTC)

Posted by on Jun 6th, 2023

Creative Planning raised its holdings in The Toro Company (NYSE:TTC – Get Rating) by 21.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,353 shares of the company’s stock after acquiring an additional 1,683 shares during the period. Creative Planning’s holdings in Toro were worth $1,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in shares of Toro by 294.6% during the fourth quarter. Lindbrook Capital LLC now owns 292 shares of the company’s stock worth $33,000 after purchasing an additional 218 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Toro by 78.1% during the third quarter. IFP Advisors Inc now owns 495 shares of the company’s stock worth $35,000 after purchasing an additional 217 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Toro by 255.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 355 shares of the company’s stock worth $40,000 after purchasing an additional 255 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Toro during the fourth quarter worth about $42,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Toro during the second quarter worth about $42,000. Institutional investors own 85.14% of the company’s stock.

Insider Activity

In other news, VP Renee J. Peterson sold 26,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $110.09, for a total transaction of $2,917,385.00. Following the completion of the sale, the vice president now owns 15,318 shares in the company, valued at $1,686,358.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Richard M. Olson sold 12,000 shares of the business’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 transaction of $1,312,800.00. Following the completion of the sale, the chief executive officer now owns 17,913 shares in the company, valued at $1,959,682.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Renee J. Peterson sold 26,500 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $110.09, for a total value of $2,917,385.00. Following the sale, the vice president now owns 15,318 shares of the company’s stock, valued at approximately $1,686,358.62. The disclosure for this sale can be found here. Insiders sold a total of 59,634 shares of company stock worth $6,516,758 over the last quarter. 2.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TTC. CL King began coverage on Toro in a report on Friday, May 19th. They set a “buy” rating and a $133.00 price target on the stock. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Finally, Northland Securities began coverage on Toro in a research note on Monday, April 17th. They issued a “market perform” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Toro has a consensus rating of “Moderate Buy” and a consensus target price of $122.25.

Toro Price Performance

Shares of TTC opened at $101.03 on Tuesday. The Toro Company has a 52-week low of $71.86 and a 52-week high of $117.66. 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 business’s 50 day moving average price is $104.41 and its two-hundred day moving average price is $109.09. The firm has a market cap of $10.54 billion, a PE ratio of 22.16 and a beta of 0.72.

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

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Wednesday, June 21st will be issued a dividend of $0.34 per share. The ex-dividend date is Tuesday, June 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.35%. Toro’s dividend payout ratio is 29.82%.

Toro Profile

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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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