SG Americas Securities LLC Trims Stake in Toro Co (TTC)
SG Americas Securities LLC reduced its stake in shares of Toro Co (NYSE:TTC) by 74.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,418 shares of the company’s stock after selling 18,820 shares during the period. SG Americas Securities LLC’s holdings in Toro were worth $398,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in TTC. Tocqueville Asset Management L.P. bought a new position in shares of Toro during the 2nd quarter valued at approximately $212,000. Advisory Services Network LLC grew its position in shares of Toro by 17.4% during the 2nd quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock valued at $246,000 after acquiring an additional 527 shares during the period. Alps Advisors Inc. grew its position in shares of Toro by 0.6% during the 2nd quarter. Alps Advisors Inc. now owns 8,825 shares of the company’s stock valued at $611,000 after acquiring an additional 54 shares during the period. Oakbrook Investments LLC grew its position in shares of Toro by 25.8% during the 3rd quarter. Oakbrook Investments LLC now owns 10,238 shares of the company’s stock valued at $635,000 after acquiring an additional 2,100 shares during the period. Finally, Wedge Capital Management L L P NC grew its position in shares of Toro by 24.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 10,412 shares of the company’s stock valued at $646,000 after acquiring an additional 2,071 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Toro from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Tuesday. BidaskClub downgraded shares of Toro from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Dougherty & Co downgraded shares of Toro from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th. Finally, Seaport Global Securities downgraded shares of Toro from a “buy” rating to a “neutral” rating and set a $67.00 target price for the company. in a research report on Friday, August 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Toro presently has a consensus rating of “Hold” and an average target price of $68.67.
Toro Co (NYSE TTC) traded up $0.60 on Thursday, reaching $65.19. 511,600 shares of the company traded hands, compared to its average volume of 591,283. The company has a market cap of $6,960.75, a P/E ratio of 26.80, a PEG ratio of 2.48 and a beta of 0.62. Toro Co has a 52 week low of $54.78 and a 52 week high of $73.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.65.
Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, December 7th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The company had revenue of $488.60 million during the quarter, compared to the consensus estimate of $491.55 million. Toro had a net margin of 10.69% and a return on equity of 44.66%. Toro’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS. equities analysts anticipate that Toro Co will post 2.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This is an increase from Toro’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.23%. Toro’s dividend payout ratio (DPR) is 29.05%.
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Toro Company Profile
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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