Simplicity Wealth LLC Takes Position in The Toro Company (NYSE:TTC)

Simplicity Wealth LLC acquired a new stake in shares of The Toro Company (NYSE:TTCFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,422 shares of the company’s stock, valued at approximately $680,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Toro during the 4th quarter valued at $103,785,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Toro by 25.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,180,246 shares of the company’s stock valued at $347,378,000 after purchasing an additional 835,637 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Toro by 73.8% during the 4th quarter. Wellington Management Group LLP now owns 1,845,724 shares of the company’s stock valued at $177,171,000 after purchasing an additional 783,794 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Toro by 334.2% during the 4th quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock valued at $78,545,000 after purchasing an additional 629,820 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in Toro by 250.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 459,717 shares of the company’s stock worth $44,128,000 after acquiring an additional 328,550 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Insider Activity at Toro

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TTC shares. DA Davidson raised their price target on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. TheStreet raised shares of Toro from a “c+” rating to a “b-” rating in a report on Thursday, February 15th. Finally, StockNews.com lowered shares of Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Toro has a consensus rating of “Hold” and an average target price of $98.75.

View Our Latest Analysis on TTC

Toro Trading Up 2.0 %

Shares of TTC traded up $1.75 during trading hours on Monday, reaching $89.99. 1,368,853 shares of the company traded hands, compared to its average volume of 724,513. The company’s fifty day moving average price is $88.13 and its two-hundred day moving average price is $89.61. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 32.84 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 Toro Company has a 12 month low of $78.35 and a 12 month high of $106.68.

Toro (NYSE:TTCGet Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the business earned $0.98 earnings per share. The company’s revenue was down 12.8% on a year-over-year basis. Equities research analysts predict that The Toro Company will post 4.3 earnings per share for the current fiscal year.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 1.60%. Toro’s dividend payout ratio (DPR) is currently 52.55%.

About Toro

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Toro (NYSE:TTC)

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