Mid Atlantic Financial Management Inc. ADV Cuts Stake in Toro Co (TTC)

Mid Atlantic Financial Management Inc. ADV lessened its holdings in Toro Co (NYSE:TTC) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,228 shares of the company’s stock after selling 156 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Toro were worth $498,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TTC. Trustcore Financial Services LLC acquired a new position in Toro during the first quarter worth $34,000. Riverview Trust Co acquired a new position in Toro during the fourth quarter worth $35,000. Oregon Public Employees Retirement Fund increased its holdings 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 worth $42,000 after buying an additional 2,287,837 shares during the last quarter. Liberty Wealth Management LLC acquired a new position in Toro during the fourth quarter worth $49,000. Finally, Quadrant Capital Group LLC increased its holdings in Toro by 2,058.8% during the first quarter. Quadrant Capital Group LLC now owns 734 shares of the company’s stock worth $49,000 after buying an additional 700 shares during the last quarter. 80.60% of the stock is currently owned by institutional investors and hedge funds.

In other Toro news, Director Gary Lee Ellis sold 15,108 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $68.60, for a total value of $1,036,408.80. Following the transaction, the director now directly owns 43,861 shares in the company, valued at $3,008,864.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Darren L. Redetzke sold 16,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the vice president now owns 16,013 shares in the company, valued at $1,104,096.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,293 shares of company stock worth $4,048,661. Corporate insiders own 2.36% of the company’s stock.

TTC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Toro from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. ValuEngine upgraded shares of Toro from a “hold” rating to a “buy” rating in a report on Friday, February 22nd.

Shares of TTC opened at $70.95 on Tuesday. The firm has a market cap of $7.57 billion, a P/E ratio of 26.57 and a beta of 0.76. Toro Co has a 1-year low of $52.97 and a 1-year high of $75.13. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.65.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, February 21st. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.01. Toro had a net margin of 11.55% and a return on equity of 44.47%. The firm had revenue of $603.00 million for the quarter, compared to the consensus estimate of $575.05 million. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Toro Co will post 2.98 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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