Consolidated Planning Corp Acquires Shares of 37,218 The Toro Company (NYSE:TTC)

Consolidated Planning Corp acquired a new stake in shares of The Toro Company (NYSE:TTC) during the fourth quarter, HoldingsChannel reports. The fund acquired 37,218 shares of the company’s stock, valued at approximately $3,573,000.

Other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in Toro during the 4th quarter valued at $26,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Toro by 135.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock valued at $25,000 after buying an additional 174 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Toro during the 3rd quarter valued at $25,000. Millburn Ridgefield Corp bought a new stake in shares of Toro during the 3rd quarter valued at $30,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Toro during the 3rd quarter valued at $30,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Stock Performance

TTC traded up $0.78 during midday trading on Friday, hitting $87.50. 419,610 shares of the company traded hands, compared to its average volume of 646,881. The Toro Company has a 52 week low of $78.35 and a 52 week high of $108.50. The firm has a market capitalization of $9.14 billion, a PE ratio of 31.94 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average is $89.32 and its 200 day moving average is $88.94.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Toro had a net margin of 6.53% and a return on equity of 26.66%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the company earned $0.98 EPS. Toro’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, research analysts expect that The Toro Company will post 4.3 EPS for the current year.

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Thursday, March 28th. Toro’s payout ratio is currently 52.55%.

Insider Activity

In other news, Director Gary Lee Ellis sold 5,192 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the sale, the director now owns 33,051 shares of the company’s stock, valued at approximately $2,933,276.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Edric C. Funk sold 615 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $89.57, for a total value of $55,085.55. Following the completion of the sale, the vice president now directly owns 1,049 shares of the company’s stock, valued at approximately $93,958.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Lee Ellis sold 5,192 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the sale, the director now directly owns 33,051 shares of the company’s stock, valued at $2,933,276.25. The disclosure for this sale can be found here. Insiders own 1.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TTC. StockNews.com cut shares of Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. DA Davidson upped their price target on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Finally, TheStreet upgraded shares of Toro from a “c+” rating to a “b-” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $105.60.

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.