SG Americas Securities LLC Raises Holdings in Toro Co (TTC)

SG Americas Securities LLC increased its holdings in Toro Co (NYSE:TTC) by 399.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,038 shares of the company’s stock after buying an additional 25,620 shares during the period. SG Americas Securities LLC’s holdings in Toro were worth $2,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTC. Flinton Capital Management LLC raised its position in shares of Toro by 6.9% in the second quarter. Flinton Capital Management LLC now owns 10,880 shares of the company’s stock valued at $754,000 after buying an additional 704 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Toro by 17.4% in the second quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock valued at $246,000 after buying an additional 527 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Toro by 96.8% in the second quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock valued at $25,357,000 after buying an additional 179,968 shares in the last quarter. Oakbrook Investments LLC raised its position in shares of Toro by 25.8% in the third quarter. Oakbrook Investments LLC now owns 10,238 shares of the company’s stock valued at $635,000 after buying an additional 2,100 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Toro in the third quarter valued at approximately $10,811,000. Institutional investors own 74.71% of the company’s stock.

In other Toro news, VP David H. Alkire sold 23,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the completion of the transaction, the vice president now directly owns 14,769 shares in the company, valued at $972,243.27. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Bradley A. Hamilton sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $65.33, for a total transaction of $130,660.00. Following the transaction, the vice president now owns 3,851 shares of the company’s stock, valued at $251,585.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,000 shares of company stock valued at $4,814,630. Company insiders own 5.69% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Toro from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Tuesday, December 19th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $69.00.

Shares of Toro Co (NYSE:TTC) opened at $61.14 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.65 and a quick ratio of 1.02. Toro Co has a 1 year low of $58.00 and a 1 year high of $73.86. The firm has a market cap of $6,911.14, a P/E ratio of 25.37, a PEG ratio of 2.47 and a beta of 0.60.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, December 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Toro had a net margin of 10.69% and a return on equity of 44.66%. The company had revenue of $488.60 million during the quarter, compared to the consensus estimate of $491.55 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. analysts predict that Toro Co will post 2.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 22nd were given a dividend of $0.20 per share. This is an increase from Toro’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, December 21st. Toro’s payout ratio is currently 33.20%.

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Toro Profile

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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