Arizona State Retirement System increased its stake in shares of Toro Co (NYSE:TTC) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,502 shares of the company’s stock after acquiring an additional 809 shares during the quarter. Arizona State Retirement System owned about 0.07% of Toro worth $4,219,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in TTC. Highwater Wealth Management LLC purchased a new position in shares of Toro in the 4th quarter worth approximately $39,000. Cubist Systematic Strategies LLC boosted its stake in Toro by 137.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,398 shares of the company’s stock worth $205,000 after purchasing an additional 1,966 shares in the last quarter. Calton & Associates Inc. acquired a new stake in Toro in the 3rd quarter worth approximately $250,000. Gideon Capital Advisors Inc. acquired a new stake in Toro in the 3rd quarter worth approximately $279,000. Finally, Rockland Trust Co. acquired a new stake in Toro in the 4th quarter worth approximately $274,000. Institutional investors and hedge funds own 78.84% of the company’s stock.
In other news, VP Richard W. Rodier sold 7,727 shares of the stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $57.21, for a total value of $442,061.67. Following the completion of the sale, the vice president now directly owns 30,122 shares in the company, valued at $1,723,279.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Blake M. Grams sold 2,456 shares of the stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $58.68, for a total transaction of $144,118.08. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.
A number of analysts recently commented on TTC shares. Zacks Investment Research upgraded shares of Toro from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Robert W. Baird initiated coverage on shares of Toro in a research note on Friday, January 18th. They set a “neutral” rating and a $62.00 price objective for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Toro presently has an average rating of “Hold” and a consensus target price of $66.00.
Shares of NYSE TTC opened at $60.94 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The firm has a market cap of $6.49 billion, a P/E ratio of 22.82 and a beta of 0.71. Toro Co has a 1 year low of $52.97 and a 1 year high of $65.06.
Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, December 6th. The company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The company had revenue of $539.30 million for the quarter, compared to analyst estimates of $516.60 million. Toro had a return on equity of 45.99% and a net margin of 10.39%. The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. On average, research analysts anticipate that Toro Co will post 2.95 EPS for the current year.
The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.
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