Texas Permanent School Fund Corp Lowers Stock Holdings in The Toro Company (NYSE:TTC)

Texas Permanent School Fund Corp decreased its holdings in shares of The Toro Company (NYSE:TTCFree Report) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,246 shares of the company’s stock after selling 3,576 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Toro worth $7,333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Toro by 2.6% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,900 shares of the company’s stock worth $396,000 after buying an additional 100 shares during the last quarter. CWM LLC increased its position in shares of Toro by 21.1% during the second quarter. CWM LLC now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 103 shares in the last quarter. Dearborn Partners LLC increased its position in shares of Toro by 2.8% during the third quarter. Dearborn Partners LLC now owns 3,864 shares of the company’s stock worth $334,000 after purchasing an additional 104 shares in the last quarter. Procyon Advisors LLC increased its position in shares of Toro by 2.3% during the third quarter. Procyon Advisors LLC now owns 5,470 shares of the company’s stock worth $455,000 after purchasing an additional 123 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its position in shares of Toro by 36.1% during the first quarter. Belpointe Asset Management LLC now owns 501 shares of the company’s stock worth $56,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TTC. DA Davidson cut Toro from a “buy” rating to a “neutral” rating and cut their target price for the stock from $110.00 to $87.00 in a research report on Tuesday, December 5th. Robert W. Baird lifted their target price on Toro from $92.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.00.

Check Out Our Latest Stock Report on Toro

Toro Stock Performance

Shares of TTC stock opened at $96.92 on Friday. The stock has a market capitalization of $10.12 billion, a PE ratio of 30.96 and a beta of 0.75. The Toro Company has a 52-week low of $78.35 and a 52-week high of $117.17. The stock’s 50-day moving average price is $91.86 and its 200 day moving average price is $90.14. The company has a quick ratio of 0.75, a current ratio of 1.90 and a debt-to-equity ratio of 0.68.

Toro (NYSE:TTCGet Free Report) last issued its quarterly earnings results on Wednesday, December 20th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.15. The firm had revenue of $983.20 million for the quarter, compared to analysts’ expectations of $973.65 million. Toro had a return on equity of 29.60% and a net margin of 7.24%. The firm’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.11 EPS. As a group, equities research analysts forecast that The Toro Company will post 4.31 EPS for the current year.

Toro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Wednesday, December 27th were given a dividend of $0.36 per share. This is a boost from Toro’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, December 26th. This represents a $1.44 annualized dividend and a yield of 1.49%. Toro’s payout ratio is presently 46.01%.

Insiders Place Their Bets

In other Toro news, Director Janet Katherine Cooper sold 1,660 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $99.50, for a total transaction of $165,170.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Toro news, Director Janet Katherine Cooper sold 1,660 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $99.50, for a total transaction of $165,170.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kurt D. Svendsen sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $98.27, for a total value of $471,696.00. Following the transaction, the vice president now owns 10,752 shares in the company, valued at approximately $1,056,599.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,399 shares of company stock worth $729,874. Company insiders own 2.22% of the company’s stock.

Toro Profile

(Free Report)

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

Recommended Stories

Institutional Ownership by Quarter for Toro (NYSE:TTC)

Receive News & Ratings for Toro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toro and related companies with MarketBeat.com's FREE daily email newsletter.