State of Alaska Department of Revenue lifted its position in shares of Toro Co (NYSE:TTC) by 6.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,493 shares of the company’s stock after buying an additional 770 shares during the quarter. State of Alaska Department of Revenue’s holdings in Toro were worth $928,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in Toro in the 4th quarter worth $35,000. Highwater Wealth Management LLC purchased a new stake in Toro in the 4th quarter worth $39,000. Oregon Public Employees Retirement Fund lifted its stake in Toro by 5,488.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,329,525 shares of the company’s stock worth $42,000 after purchasing an additional 2,287,837 shares in the last quarter. Liberty Wealth Management LLC purchased a new stake in Toro in the 4th quarter worth $49,000. Finally, Parallel Advisors LLC lifted its stake in Toro by 25.5% in the 4th quarter. Parallel Advisors LLC now owns 1,601 shares of the company’s stock worth $89,000 after purchasing an additional 325 shares in the last quarter. Institutional investors own 80.78% of the company’s stock.
Shares of TTC stock opened at $74.03 on Friday. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 27.32 and a beta of 0.75. Toro Co has a 52 week low of $52.97 and a 52 week high of $74.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.65.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, March 29th. Toro’s dividend payout ratio is 33.71%.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Toro from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Thursday, April 11th. ValuEngine upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Finally, Robert W. Baird assumed coverage on shares of Toro in a research note on Friday, January 18th. They issued a “neutral” rating and a $62.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Toro has a consensus rating of “Buy” and a consensus target price of $70.00.
In other news, VP Darren L. Redetzke sold 16,000 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $68.95, for a total transaction of $1,103,200.00. Following the sale, the vice president now directly owns 16,013 shares in the company, valued at approximately $1,104,096.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Lee Ellis sold 15,108 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $68.60, for a total transaction of $1,036,408.80. Following the sale, the director now owns 43,861 shares in the company, valued at $3,008,864.60. The disclosure for this sale can be found here. Insiders have sold a total of 59,293 shares of company stock worth $4,048,661 over the last 90 days. Corporate insiders own 2.36% of the company’s stock.
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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