First Quadrant L P CA cut its stake in shares of Toro Co (NYSE:TTC) by 32.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 86,198 shares of the company’s stock after selling 41,874 shares during the period. First Quadrant L P CA’s holdings in Toro were worth $5,767,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Systems of Alabama boosted its holdings in Toro by 1.4% in the second quarter. Retirement Systems of Alabama now owns 252,386 shares of the company’s stock valued at $16,885,000 after purchasing an additional 3,484 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Toro by 9.2% in the first quarter. New York State Common Retirement Fund now owns 349,700 shares of the company’s stock valued at $24,073,000 after buying an additional 29,600 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Toro in the second quarter valued at approximately $782,000. King Luther Capital Management Corp lifted its stake in Toro by 37.8% in the first quarter. King Luther Capital Management Corp now owns 966,956 shares of the company’s stock valued at $66,565,000 after buying an additional 265,340 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Toro by 2.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 64,781 shares of the company’s stock valued at $3,620,000 after buying an additional 1,424 shares during the last quarter. 81.41% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on TTC shares. Zacks Investment Research cut Toro from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Sidoti set a $72.00 price objective on Toro and gave the company a “hold” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Toro presently has an average rating of “Hold” and a consensus price target of $69.00.
Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, May 23rd. The company reported $1.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.04). Toro had a return on equity of 40.99% and a net margin of 10.62%. The company had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $987.80 million. During the same quarter last year, the company earned $1.20 EPS. Toro’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, research analysts predict that Toro Co will post 2.93 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Tuesday, June 25th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Monday, June 24th. Toro’s dividend payout ratio (DPR) is presently 33.71%.
In other news, VP Amy E. Dahl sold 2,900 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $68.87, for a total transaction of $199,723.00. Following the completion of the sale, the vice president now owns 14,779 shares in the company, valued at $1,017,829.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.36% of the stock is owned by corporate insiders.
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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