Schroder Investment Management Group increased its position in Toro Co (NYSE:TTC) by 51.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,983 shares of the company’s stock after buying an additional 55,702 shares during the period. Schroder Investment Management Group owned 0.15% of Toro worth $10,084,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of Toro by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 1,698,237 shares of the company’s stock worth $105,393,000 after buying an additional 11,953 shares in the last quarter. Teachers Advisors LLC raised its position in Toro by 23.6% during the second quarter. Teachers Advisors LLC now owns 477,977 shares of the company’s stock valued at $33,119,000 after purchasing an additional 91,263 shares during the period. Lord Abbett & CO. LLC raised its holdings 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 worth $25,357,000 after buying an additional 179,968 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Toro by 1.1% in the third quarter. New York State Common Retirement Fund now owns 363,522 shares of the company’s stock worth $22,560,000 after buying an additional 3,862 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Toro by 13.5% in the second quarter. TIAA CREF Investment Management LLC now owns 340,944 shares of the company’s stock worth $23,624,000 after buying an additional 40,671 shares during the period. Institutional investors own 75.18% of the company’s stock.
Several brokerages have recently weighed in on TTC. Dougherty & Co downgraded Toro from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. BidaskClub downgraded Toro from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, Seaport Global Securities cut Toro from a “buy” rating to a “neutral” rating and set a $67.00 price objective on the stock. in a research note on Friday, August 25th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $63.75.
Toro (NYSE:TTC) last announced its earnings results on Thursday, December 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Toro had a return on equity of 45.10% and a net margin of 10.69%. The business had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $491.55 million. During the same quarter last year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. analysts forecast that Toro Co will post 2.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, December 21st. This is a positive change from Toro’s previous quarterly dividend of $0.18. Toro’s dividend payout ratio is currently 29.54%.
In other news, Director Katherine J. Harless sold 6,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $61.88, for a total transaction of $371,280.00. Following the completion of the sale, the director now owns 77,672 shares in the company, valued at approximately $4,806,343.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 56,000 shares of company stock valued at $375,780. Company insiders own 5.69% of the company’s stock.
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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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