Price T Rowe Associates Inc. MD Has $609.63 Million Position in The Toro Company (NYSE:TTC)

Price T Rowe Associates Inc. MD lifted its position in The Toro Company (NYSE:TTC) by 25.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,653,109 shares of the company’s stock after acquiring an additional 1,332,248 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.06% of Toro worth $609,626,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TTC. UMB Bank n.a. grew its stake in shares of Toro by 1,204.8% in the 1st quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after acquiring an additional 253 shares in the last quarter. Rise Advisors LLC grew its stake in shares of Toro by 2,057.1% in the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after acquiring an additional 288 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Toro in the 4th quarter worth $42,000. Fifth Third Bancorp grew its stake in shares of Toro by 30.2% in the 4th quarter. Fifth Third Bancorp now owns 621 shares of the company’s stock worth $60,000 after acquiring an additional 144 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Toro in the 4th quarter worth $66,000. Institutional investors own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their price target on shares of Toro from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $98.75.

Toro Stock Performance

NYSE TTC traded up $0.19 during trading on Monday, hitting $96.95. 127,582 shares of the company’s stock traded hands, compared to its average volume of 891,176. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 38.25 and a beta of 0.69. The Toro Company has a 12-month low of $77.15 and a 12-month high of $104.70. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.93. The business has a 50 day moving average of $90.96 and a 200-day moving average of $90.60.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, June 6th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.29 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Toro had a net margin of 6.00% and a return on equity of 25.04%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 earnings per share. As a group, equities research analysts anticipate that The Toro Company will post 4.32 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 18th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Tuesday, June 18th. Toro’s payout ratio is 56.92%.

Insider Transactions at Toro

In other news, CEO Richard M. Olson sold 20,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $95.19, for a total value of $1,903,800.00. Following the sale, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at $1,705,138.47. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.62% of the company’s stock.

Toro Company Profile

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.