The Toro Company (NYSE:TTC) Shares Sold by B. Riley Wealth Advisors Inc.

Posted by Defense World Staff on Oct 25th, 2023

B. Riley Wealth Advisors Inc. lowered its position in The Toro Company (NYSE:TTC – Free Report) by 7.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,031 shares of the company’s stock after selling 164 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Toro were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TTC. Bank of Montreal Can increased its stake in shares of Toro by 1.2% in the first quarter. Bank of Montreal Can now owns 49,173 shares of the company’s stock valued at $4,262,000 after purchasing an additional 563 shares during the period. APG Asset Management N.V. increased its stake in shares of Toro by 37.2% in the first quarter. APG Asset Management N.V. now owns 15,500 shares of the company’s stock valued at $1,191,000 after purchasing an additional 4,200 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Toro by 7.6% in the first quarter. Great West Life Assurance Co. Can now owns 60,366 shares of the company’s stock valued at $5,309,000 after purchasing an additional 4,269 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Toro by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 883,779 shares of the company’s stock valued at $75,558,000 after purchasing an additional 23,223 shares during the period. Finally, Baird Financial Group Inc. increased its stake in shares of Toro by 9.2% in the first quarter. Baird Financial Group Inc. now owns 37,193 shares of the company’s stock valued at $3,180,000 after purchasing an additional 3,144 shares during the period. Institutional investors and hedge funds own 84.69% of the company’s stock.

Toro Trading Down 0.1 %

Toro stock opened at $81.31 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.68 and a current ratio of 1.91. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 22.71 and a beta of 0.77. The Toro Company has a 1 year low of $78.35 and a 1 year high of $117.66. The firm’s 50 day moving average price is $88.53 and its two-hundred day moving average price is $97.48.

Toro (NYSE:TTC – Get Free Report) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.28). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.22 billion. Toro had a return on equity of 33.37% and a net margin of 7.95%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 EPS. On average, research analysts predict that The Toro Company will post 4.08 EPS for the current fiscal year.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Wednesday, October 4th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, October 3rd. Toro’s payout ratio is 37.99%.

Insiders Place Their Bets

In other Toro news, VP Kevin N. Carpenter sold 1,610 shares of Toro stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $81.93, for a total transaction of $131,907.30. Following the transaction, the vice president now directly owns 169 shares in the company, valued at approximately $13,846.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TTC shares. StockNews.com started coverage on Toro in a report on Thursday, October 5th. They set a “hold” rating on the stock. Robert W. Baird dropped their target price on Toro from $110.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, September 8th. TheStreet cut Toro from a “b” rating to a “c+” rating in a report on Thursday, September 7th. Raymond James dropped their target price on Toro from $125.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, September 8th. Finally, Northland Securities dropped their target price on Toro from $110.00 to $95.00 and set a “market perform” rating on the stock in a report on Monday, September 11th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.80.

Get Our Latest Stock Analysis on Toro

About Toro

(Free Report)

The Toro Company provides innovative solutions for the outdoor environment worldwide. It operates through two segments Professional and Residential. The company's 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, including snowplows; as well as stand-on snow and ice removal equipment, such as the related 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.