The Toro Company (NYSE:TTC) Director Sells $156,640.00 in Stock

The Toro Company (NYSE:TTCGet Rating) Director Katherine J. Harless sold 1,780 shares of Toro stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $88.00, for a total value of $156,640.00. Following the completion of the sale, the director now owns 53,364 shares in the company, valued at $4,696,032. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Toro Price Performance

Shares of Toro stock traded down $1.35 on Friday, hitting $86.40. 7,727 shares of the company were exchanged, compared to its average volume of 436,693. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 23.70 and a beta of 0.76. The company has a 50-day moving average price of $86.68 and a 200 day moving average price of $83.41. The Toro Company has a 1-year low of $71.86 and a 1-year high of $106.31. The company has a quick ratio of 0.66, a current ratio of 1.59 and a debt-to-equity ratio of 0.77.

Toro (NYSE:TTCGet Rating) last released its quarterly earnings data on Thursday, September 1st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Toro had a return on equity of 32.35% and a net margin of 8.97%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts predict that The Toro Company will post 4.2 earnings per share for the current fiscal year.

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Wednesday, October 5th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, October 4th. Toro’s dividend payout ratio is presently 32.88%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TTC. Durable Capital Partners LP purchased a new stake in Toro in the first quarter valued at approximately $150,798,000. First Trust Advisors LP increased its position in shares of Toro by 336.6% during the first quarter. First Trust Advisors LP now owns 932,866 shares of the company’s stock worth $79,751,000 after acquiring an additional 719,203 shares during the period. JPMorgan Chase & Co. increased its position in shares of Toro by 31.6% during the first quarter. JPMorgan Chase & Co. now owns 2,754,367 shares of the company’s stock worth $235,470,000 after acquiring an additional 661,588 shares during the period. Select Equity Group L.P. increased its position in shares of Toro by 13.9% during the first quarter. Select Equity Group L.P. now owns 5,269,614 shares of the company’s stock worth $450,499,000 after acquiring an additional 642,703 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Toro by 15.9% during the second quarter. Victory Capital Management Inc. now owns 4,198,678 shares of the company’s stock worth $318,218,000 after acquiring an additional 575,429 shares during the period. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Robert W. Baird lowered their price objective on Toro from $108.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, May 31st. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a report on Friday, September 16th. Finally, Northcoast Research upgraded Toro from a “neutral” rating to a “buy” rating in a report on Tuesday, September 6th.

Toro Company Profile

(Get Rating)

The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. 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; and snow and ice management equipment, such as snowplows, brush, snow thrower attachment, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

Further Reading

Insider Buying and Selling by Quarter for Toro (NYSE:TTC)

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