Lecap Asset Management Ltd. Invests $707,000 in The Toro Company (NYSE:TTC)

Lecap Asset Management Ltd. acquired a new stake in The Toro Company (NYSE:TTC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,559 shares of the company’s stock, valued at approximately $707,000.

Several other hedge funds have also modified their holdings of TTC. Fifth Third Bancorp boosted its stake in Toro by 19.5% in the first quarter. Fifth Third Bancorp now owns 742 shares of the company’s stock valued at $68,000 after acquiring an additional 121 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Toro by 0.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company’s stock worth $4,405,000 after purchasing an additional 123 shares during the last quarter. Natixis Advisors L.P. grew its stake in shares of Toro by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 25,092 shares of the company’s stock worth $2,408,000 after purchasing an additional 137 shares during the period. Assenagon Asset Management S.A. increased its holdings in Toro by 3.5% in the first quarter. Assenagon Asset Management S.A. now owns 4,270 shares of the company’s stock valued at $391,000 after purchasing an additional 146 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in Toro by 3.8% in the fourth quarter. Spire Wealth Management now owns 4,749 shares of the company’s stock valued at $441,000 after buying an additional 176 shares during the period. 87.95% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Richard M. Olson sold 20,000 shares of the stock in a transaction on Friday, June 21st. The stock was 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 owns 17,913 shares in the company, valued at approximately $1,705,138.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Toro Stock Down 0.6 %

Shares of NYSE TTC traded down $0.55 during midday trading on Thursday, reaching $90.22. The company’s stock had a trading volume of 27,324 shares, compared to its average volume of 870,184. The stock has a 50 day simple moving average of $92.77 and a 200-day simple moving average of $90.39. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 35.88 and a beta of 0.69. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $104.23.

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

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.