Toro Co (NYSE:TTC) Shares Sold by Kayne Anderson Rudnick Investment Management LLC
Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of Toro Co (NYSE:TTC) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,059,498 shares of the company’s stock after selling 24,055 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Toro were worth $141,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in TTC. Oregon Public Employees Retirement Fund lifted its position in Toro by 5,488.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,329,525 shares of the company’s stock valued at $42,000 after purchasing an additional 2,287,837 shares during the last quarter. Norges Bank bought a new stake in shares of Toro in the 4th quarter worth approximately $52,686,000. Barclays PLC lifted its holdings in shares of Toro by 367.2% in the 4th quarter. Barclays PLC now owns 843,121 shares of the company’s stock worth $47,112,000 after acquiring an additional 662,671 shares during the last quarter. FMR LLC lifted its holdings in shares of Toro by 105.2% in the 1st quarter. FMR LLC now owns 724,513 shares of the company’s stock worth $49,875,000 after acquiring an additional 371,518 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in shares of Toro by 37.8% in the 1st quarter. King Luther Capital Management Corp now owns 966,956 shares of the company’s stock worth $66,565,000 after acquiring an additional 265,340 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.
Shares of TTC traded down $0.28 during mid-day trading on Friday, reaching $68.09. The company’s stock had a trading volume of 232,120 shares, compared to its average volume of 472,930. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 25.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 1.51. Toro Co has a 52 week low of $52.97 and a 52 week high of $75.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Tuesday, June 25th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. Toro’s payout ratio is 33.71%.
In related news, Director Robert C. Buhrmaster sold 2,000 shares of Toro stock in a transaction on Monday, March 18th. The shares were sold at an average price of $67.95, for a total value of $135,900.00. Following the transaction, the director now directly owns 21,091 shares of the company’s stock, valued at $1,433,133.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard W. Rodier sold 6,000 shares of Toro stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $68.45, for a total transaction of $410,700.00. Following the completion of the transaction, the vice president now directly owns 28,395 shares in the company, valued at $1,943,637.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,941 shares of company stock worth $679,190. 2.36% of the stock is owned by insiders.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Toro from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. Sidoti set a $72.00 price objective on shares of Toro and gave the stock a “hold” rating in a report on Tuesday, June 11th. Finally, ValuEngine upgraded shares of Toro from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $69.00.
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Toro Company Profile
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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