Toro Co. (TTC) Trading Down 0.2%
Toro Co. (NYSE:TTC) shares fell 0.2% during trading on Friday . The company traded as low as $90.23 and last traded at $90.55, with a volume of 229,098 shares changing hands. The stock had previously closed at $90.71.
A number of research firms have recently commented on TTC. Sidoti downgraded Toro from a “buy” rating to a “neutral” rating and set a $98.00 price objective on the stock. in a report on Friday, June 10th. Zacks Investment Research downgraded Toro from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Northcoast Research reiterated a “neutral” rating on shares of Toro in a report on Thursday, June 30th. Finally, Seaport Global Securities began coverage on Toro in a report on Tuesday, May 24th. They issued a “neutral” rating and a $87.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average target price of C$91.33.
The stock has a market cap of $4.98 billion and a PE ratio of 22.98. The stock has a 50-day moving average price of $87.60 and a 200-day moving average price of $81.96.
Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, May 19th. The company reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.10. During the same quarter in the prior year, the firm earned $1.64 EPS. The company had revenue of $836.40 million for the quarter, compared to analyst estimates of $854 million. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts expect that Toro Co. will post $4.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 12th. Shareholders of record on Tuesday, June 21st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, June 17th.
In other Toro news, CEO Michael J. Hoffman sold 125,600 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of C$86.46, for a total transaction of C$10,859,376.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher A. Twomey sold 5,246 shares of the business’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of C$87.60, for a total value of C$459,549.60. Following the transaction, the director now owns 5,246 shares in the company, valued at approximately C$459,549.60. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently modified their holdings of TTC. Advisors Asset Management Inc. boosted its position in shares of Toro by 0.3% in the fourth quarter. Advisors Asset Management Inc. now owns 15,638 shares of the company’s stock worth $1,143,000 after buying an additional 45 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Toro by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,891 shares of the company’s stock worth $1,161,000 after buying an additional 68 shares in the last quarter. State Treasurer State of Michigan boosted its position in shares of Toro by 1.4% in the fourth quarter. State Treasurer State of Michigan now owns 21,700 shares of the company’s stock worth $1,586,000 after buying an additional 300 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Toro during the fourth quarter worth approximately $1,694,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Toro by 292.2% in the fourth quarter. Teacher Retirement System of Texas now owns 26,766 shares of the company’s stock worth $1,956,000 after buying an additional 19,941 shares in the last quarter.
The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.
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