PNC Financial Services Group Inc. trimmed its stake in shares of Toro Co (NYSE:TTC) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,002 shares of the company’s stock after selling 922 shares during the period. PNC Financial Services Group Inc.’s holdings in Toro were worth $2,878,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Toro by 1.5% during the second quarter. BlackRock Inc. now owns 9,485,585 shares of the company’s stock valued at $571,507,000 after purchasing an additional 138,009 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Toro by 4.3% during the third 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 in the last quarter. Select Equity Group L.P. lifted its holdings in Toro by 124.3% during the second quarter. Select Equity Group L.P. now owns 2,300,656 shares of the company’s stock valued at $138,615,000 after purchasing an additional 1,274,800 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Toro by 13.8% during the second quarter. Bank of New York Mellon Corp now owns 1,955,338 shares of the company’s stock valued at $117,809,000 after purchasing an additional 236,673 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Toro by 1.1% during the second quarter. Northern Trust Corp now owns 845,738 shares of the company’s stock valued at $50,956,000 after purchasing an additional 9,122 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors and hedge funds.
NYSE:TTC opened at $58.53 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $6.27 billion, a PE ratio of 24.29 and a beta of 0.63. Toro Co has a twelve month low of $53.80 and a twelve month high of $67.81.
Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, December 6th. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The business had revenue of $539.30 million during the quarter, compared to analysts’ expectations of $516.60 million. Toro had a return on equity of 46.89% and a net margin of 10.39%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. On average, research analysts anticipate that Toro Co will post 2.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Thursday, December 20th will be paid a $0.225 dividend. This is an increase from Toro’s previous quarterly dividend of $0.20. This represents a $0.90 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Wednesday, December 19th. Toro’s dividend payout ratio (DPR) is currently 33.20%.
TTC has been the topic of several recent analyst reports. ValuEngine raised shares of Toro from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Zacks Investment Research downgraded shares of Toro from a “hold” rating to a “sell” rating in a report on Wednesday, August 29th. Finally, Dougherty & Co reaffirmed a “buy” rating on shares of Toro in a report on Monday, August 13th.
In other news, VP Kurt D. Svendsen sold 6,180 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $60.55, for a total value of $374,199.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP William E. Brown, Jr. sold 5,768 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $62.51, for a total transaction of $360,557.68. Following the completion of the transaction, the vice president now directly owns 185,817 shares in the company, valued at $11,615,420.67. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,240 shares of company stock worth $1,892,855. Insiders own 5.69% of the company’s stock.
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The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.
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