Texas Permanent School Fund Boosts Position in Toro Company (The) (TTC)
Texas Permanent School Fund boosted its position in shares of Toro Company (The) (NYSE:TTC) by 97.9% during the third quarter, Holdings Channel reports. The firm owned 83,274 shares of the company’s stock after buying an additional 41,195 shares during the period. Texas Permanent School Fund owned 0.08% of Toro Company (The) worth $3,901,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the stock. MSI Financial Services Inc increased its stake in Toro Company (The) by 12.6% in the third quarter. MSI Financial Services Inc now owns 2,718 shares of the company’s stock worth $127,000 after buying an additional 304 shares during the period. Creative Planning increased its stake in Toro Company (The) by 100.1% in the third quarter. Creative Planning now owns 2,986 shares of the company’s stock worth $140,000 after buying an additional 1,494 shares during the period. Advisory Services Network LLC increased its stake in Toro Company (The) by 234.5% in the second quarter. Advisory Services Network LLC now owns 1,880 shares of the company’s stock worth $166,000 after buying an additional 1,318 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Toro Company (The) during the third quarter valued at $207,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Toro Company (The) by 917.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the company’s stock valued at $215,000 after buying an additional 2,201 shares during the last quarter. 76.86% of the stock is owned by hedge funds and other institutional investors.
Toro Company (NYSE:TTC) opened at 57.90 on Friday. The company has a 50-day moving average price of $55.48 and a 200-day moving average price of $49.30. Toro Company has a one year low of $32.35 and a one year high of $58.26. The stock has a market cap of $6.26 billion, a P/E ratio of 28.11 and a beta of 0.48.
Toro Company (The) (NYSE:TTC) last released its earnings results on Thursday, December 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.06. The company earned $468.40 million during the quarter, compared to analyst estimates of $477.64 million. Toro Company (The) had a return on equity of 42.97% and a net margin of 9.66%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, analysts anticipate that Toro Company will post $2.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 12th. Stockholders of record on Tuesday, December 27th were issued a $0.175 dividend. The ex-dividend date was Thursday, December 22nd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from Toro Company (The)’s previous quarterly dividend of $0.15. Toro Company (The)’s dividend payout ratio is presently 33.90%.
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TTC has been the subject of several analyst reports. Zacks Investment Research raised Toro Company (The) from a “sell” rating to a “hold” rating in a research report on Friday, September 16th. Dougherty & Co initiated coverage on Toro Company (The) in a research report on Friday, November 4th. They issued a “buy” rating for the company. Longbow Research downgraded Toro Company (The) from a “neutral” rating to an “underperform” rating and set a $44.00 target price for the company. in a research report on Monday, December 12th. Finally, Seaport Global Securities raised Toro Company (The) from a “neutral” rating to a “buy” rating and upped their target price for the stock from $56.00 to $63.00 in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Toro Company (The) presently has an average rating of “Hold” and an average target price of $54.50.
In other news, VP Renee J. Peterson sold 20,000 shares of the stock in a transaction on Friday, January 6th. The stock was sold at an average price of $57.13, for a total value of $1,142,600.00. Following the completion of the sale, the vice president now owns 74,762 shares in the company, valued at $4,271,153.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William E. Brown, Jr. sold 10,136 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $56.20, for a total value of $569,643.20. Following the completion of the sale, the vice president now owns 201,128 shares of the company’s stock, valued at approximately $11,303,393.60. The disclosure for this sale can be found here. 5.94% of the stock is owned by insiders.
About Toro Company (The)
The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.
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