Treasurer of the State of North Carolina Has $2.95 Million Stake in Toro Co (NYSE:TTC)
Treasurer of the State of North Carolina raised its position in shares of Toro Co (NYSE:TTC) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,045 shares of the company’s stock after buying an additional 1,390 shares during the period. Treasurer of the State of North Carolina’s holdings in Toro were worth $2,947,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Toro by 105.2% in the first quarter. FMR LLC now owns 724,513 shares of the company’s stock valued at $49,875,000 after purchasing an additional 371,518 shares in the last quarter. Chilton Investment Co. LLC increased its holdings in shares of Toro by 1,032.4% in the second quarter. Chilton Investment Co. LLC now owns 341,783 shares of the company’s stock valued at $22,865,000 after purchasing an additional 311,601 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Toro by 6,531.7% in the second quarter. Allianz Asset Management GmbH now owns 309,104 shares of the company’s stock valued at $20,679,000 after purchasing an additional 304,443 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Toro in the second quarter valued at approximately $17,909,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Toro by 82.9% in the second quarter. Envestnet Asset Management Inc. now owns 573,583 shares of the company’s stock valued at $38,373,000 after purchasing an additional 259,955 shares in the last quarter. 82.28% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. Sidoti set a $72.00 price target on shares of Toro and gave the company a “hold” rating in a report on Tuesday, June 11th. Zacks Investment Research lowered shares of Toro from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Dougherty & Co assumed coverage on shares of Toro in a report on Wednesday, August 28th. They issued a “neutral” rating for the company. Finally, ValuEngine lowered shares of Toro from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $71.00.
Shares of TTC stock opened at $71.24 on Wednesday. Toro Co has a 52-week low of $52.97 and a 52-week high of $75.27. The stock has a market cap of $7.80 billion, a PE ratio of 26.68, a PEG ratio of 2.47 and a beta of 0.79. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.67 and a current ratio of 1.49. The firm’s 50 day moving average price is $72.69 and its two-hundred day moving average price is $70.74.
Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. Toro had a net margin of 9.34% and a return on equity of 40.52%. The firm had revenue of $838.71 million for the quarter, compared to analysts’ expectations of $876.33 million. During the same period last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. As a group, sell-side analysts predict that Toro Co will post 2.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. Toro’s payout ratio is presently 33.71%.
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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