Diversified Trust Co Sells 4,085 Shares of The Toro Company (NYSE:TTC)

Diversified Trust Co lowered its holdings in The Toro Company (NYSE:TTC) by 34.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,877 shares of the company’s stock after selling 4,085 shares during the quarter. Diversified Trust Co’s holdings in Toro were worth $737,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Evoke Wealth LLC bought a new stake in shares of Toro in the fourth quarter valued at approximately $2,479,000. Vanguard Group Inc. increased its holdings in Toro by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,491,409 shares of the company’s stock worth $1,007,070,000 after acquiring an additional 103,300 shares during the period. TD Asset Management Inc increased its holdings in Toro by 334.2% during the 4th quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock worth $78,545,000 after acquiring an additional 629,820 shares during the period. Cim LLC bought a new stake in Toro during the 4th quarter worth approximately $12,882,000. Finally, Bank of Nova Scotia increased its holdings in Toro by 5,261.3% during the 4th quarter. Bank of Nova Scotia now owns 132,209 shares of the company’s stock worth $12,690,000 after acquiring an additional 129,743 shares during the period. Institutional investors own 87.95% of the company’s stock.

Insiders Place Their Bets

In other Toro news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 17,913 shares of the company’s stock, valued at approximately $1,705,138.47. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.62% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Toro Price Performance

TTC stock traded up $0.79 during midday trading on Wednesday, reaching $89.00. The company had a trading volume of 91,384 shares, compared to its average volume of 879,657. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87. The Toro Company has a 1 year low of $77.15 and a 1 year high of $104.23. The company has a market capitalization of $9.24 billion, a P/E ratio of 34.89 and a beta of 0.69. The firm has a 50-day moving average price of $92.93 and a 200-day moving average price of $90.58.

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

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 18th were paid a $0.36 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $1.44 dividend on an annualized basis and a yield of 1.62%. Toro’s dividend payout ratio is presently 56.92%.

About Toro

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.