California Public Employees Retirement System Lowers Holdings in The Toro Company (NYSE:TTC)

California Public Employees Retirement System trimmed its holdings in The Toro Company (NYSE:TTCGet Rating) by 5.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 230,179 shares of the company’s stock after selling 12,315 shares during the period. California Public Employees Retirement System’s holdings in Toro were worth $22,997,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in shares of Toro by 4.9% in the third quarter. The Manufacturers Life Insurance Company now owns 129,024 shares of the company’s stock valued at $12,568,000 after acquiring an additional 6,085 shares in the last quarter. FIL Ltd increased its holdings in shares of Toro by 3.8% in the third quarter. FIL Ltd now owns 153,390 shares of the company’s stock worth $14,942,000 after purchasing an additional 5,618 shares during the last quarter. Mariner LLC increased its holdings in shares of Toro by 7.1% in the third quarter. Mariner LLC now owns 64,943 shares of the company’s stock worth $6,326,000 after purchasing an additional 4,279 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Toro by 911.1% in the third quarter. Voloridge Investment Management LLC now owns 57,784 shares of the company’s stock worth $5,629,000 after purchasing an additional 52,069 shares during the last quarter. Finally, Toronto Dominion Bank bought a new stake in shares of Toro in the fourth quarter worth about $9,991,000. Institutional investors and hedge funds own 82.56% of the company’s stock.

Shares of NYSE:TTC opened at $79.97 on Friday. The Toro Company has a 1 year low of $75.89 and a 1 year high of $115.68. The business has a 50 day simple moving average of $83.91 and a two-hundred day simple moving average of $93.37. The firm has a market capitalization of $8.36 billion, a PE ratio of 23.38 and a beta of 0.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.46 and a quick ratio of 0.61.

Toro (NYSE:TTCGet Rating) last announced its earnings results on Thursday, March 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Toro had a return on equity of 31.17% and a net margin of 9.16%. The business had revenue of $932.70 million during the quarter, compared to analyst estimates of $972.07 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts expect that The Toro Company will post 4.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 21st. Investors of record on Wednesday, April 6th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, April 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. Toro’s payout ratio is 35.09%.

TTC has been the topic of several research reports. Robert W. Baird reduced their target price on Toro from $120.00 to $110.00 in a report on Monday, February 28th. StockNews.com assumed coverage on Toro in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research cut Toro from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, Toro presently has a consensus rating of “Hold” and a consensus price target of $95.67.

In related news, VP Richard W. Rodier sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $85.95, for a total value of $309,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.

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

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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