Dupont Capital Management Corp Buys Shares of 13,100 Toro Co (TTC)
Dupont Capital Management Corp bought a new position in Toro Co (NYSE:TTC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,100 shares of the company’s stock, valued at approximately $855,000.
A number of other hedge funds also recently added to or reduced their stakes in TTC. Advisory Services Network LLC lifted its position in Toro by 17.4% in the 2nd quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock worth $246,000 after buying an additional 527 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Toro by 96.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock worth $25,357,000 after buying an additional 179,968 shares in the last quarter. Oakbrook Investments LLC lifted its position in Toro by 25.8% in the 3rd quarter. Oakbrook Investments LLC now owns 10,238 shares of the company’s stock worth $635,000 after buying an additional 2,100 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Toro in the 3rd quarter worth approximately $10,811,000. Finally, IFP Advisors Inc lifted its position in Toro by 7.7% in the 3rd quarter. IFP Advisors Inc now owns 33,082 shares of the company’s stock worth $2,053,000 after buying an additional 2,360 shares in the last quarter. Institutional investors own 74.71% of the company’s stock.
In related news, VP Timothy P. Dordell sold 46,000 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $66.07, for a total value of $3,039,220.00. Following the transaction, the vice president now directly owns 24,225 shares in the company, valued at approximately $1,600,545.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bradley A. Hamilton sold 2,000 shares of the firm’s stock in a transaction on Friday, December 28th. The shares were sold at an average price of $65.33, for a total transaction of $130,660.00. Following the completion of the transaction, the vice president now owns 3,851 shares in the company, valued at $251,585.83. The disclosure for this sale can be found here. Insiders have sold a total of 73,000 shares of company stock worth $4,814,630 in the last 90 days. 5.69% of the stock is owned by insiders.
Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, December 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $488.60 million for 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 quarter last year, the firm earned $0.27 EPS. sell-side analysts forecast that Toro Co will post 2.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 22nd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Toro’s previous quarterly dividend of $0.18. Toro’s dividend payout ratio (DPR) is currently 33.20%.
Separately, Zacks Investment Research downgraded shares of Toro from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $69.00.
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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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