JLB & Associates Inc. decreased its stake in shares of Toro Co (NYSE:TTC) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,954 shares of the company’s stock after selling 2,063 shares during the quarter. Toro makes up 2.9% of JLB & Associates Inc.’s portfolio, making the stock its 9th largest position. JLB & Associates Inc. owned 0.19% of Toro worth $13,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Toro by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,238,021 shares of the company’s stock valued at $254,153,000 after purchasing an additional 173,667 shares during the period. Renaissance Technologies LLC increased its position in Toro by 344.2% during the 3rd quarter. Renaissance Technologies LLC now owns 210,100 shares of the company’s stock valued at $12,600,000 after purchasing an additional 162,800 shares during the period. Vanguard Group Inc. increased its position in Toro by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,813,887 shares of the company’s stock valued at $588,539,000 after purchasing an additional 125,843 shares during the period. Vanguard Group Inc increased its position in Toro by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 9,813,887 shares of the company’s stock valued at $588,539,000 after purchasing an additional 125,843 shares during the period. Finally, Highwater Wealth Management LLC purchased a new position in Toro during the 4th quarter valued at about $39,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Toro stock traded down $0.64 on Friday, reaching $65.94. The stock had a trading volume of 717,500 shares, compared to its average volume of 425,675. The company has a quick ratio of 0.92, a current ratio of 1.65 and a debt-to-equity ratio of 0.45. Toro Co has a 1 year low of $52.97 and a 1 year high of $75.13. The company has a market cap of $7.63 billion, a P/E ratio of 24.70 and a beta of 0.76.
Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). Toro had a return on equity of 44.47% and a net margin of 11.55%. The firm had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $987.80 million. During the same period in the previous year, the firm earned $1.20 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts forecast that Toro Co will post 2.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Tuesday, June 25th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Monday, June 24th. Toro’s dividend payout ratio is presently 33.71%.
In other Toro news, Director Gary Lee Ellis sold 15,108 shares of Toro stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $68.60, for a total transaction of $1,036,408.80. Following the completion of the sale, the director now directly owns 43,861 shares in the company, valued at approximately $3,008,864.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Janet Katherine Cooper sold 1,941 shares of Toro stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.31, for a total transaction of $132,589.71. Following the sale, the director now owns 1,268 shares of the company’s stock, valued at $86,617.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,293 shares of company stock worth $4,048,661. 2.36% of the stock is owned by insiders.
TTC has been the topic of a number of research reports. Zacks Investment Research raised shares of Toro from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Thursday, April 11th. ValuEngine raised shares of Toro from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd.
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The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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