William Blair Investment Management LLC increased its holdings in shares of Toro Co (NYSE:TTC) by 317.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,207 shares of the company’s stock after buying an additional 108,926 shares during the quarter. William Blair Investment Management LLC owned 0.13% of Toro worth $9,321,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of TTC. GQ Asset Management LLC purchased a new position in shares of Toro during the first quarter valued at $33,000. Cedar Mountain Advisors LLC purchased a new position in shares of Toro during the fourth quarter valued at $34,000. BerganKDV Wealth Management LLC purchased a new position in shares of Toro during the fourth quarter valued at $35,000. Citizens Financial Group Inc RI purchased a new position in shares of Toro during the fourth quarter valued at $36,000. Finally, Synovus Financial Corp grew its holdings in shares of Toro by 1,687.8% during the first quarter. Synovus Financial Corp now owns 733 shares of the company’s stock valued at $48,000 after buying an additional 692 shares in the last quarter. Institutional investors and hedge funds own 81.40% of the company’s stock.
Separately, Zacks Investment Research downgraded Toro from a “buy” rating to a “hold” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating, Toro has an average rating of “Hold” and an average price target of $72.33.
Shares of NYSE TTC opened at $67.64 on Friday. The business’s 50-day moving average price is $63.66 and its two-hundred day moving average price is $73.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.58. Toro Co has a one year low of $52.07 and a one year high of $84.26. The company has a market capitalization of $7.26 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 2.02 and a beta of 0.70.
Toro (NYSE:TTC) last issued its earnings results on Thursday, March 5th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. Toro had a return on equity of 39.44% and a net margin of 8.62%. The firm had revenue of $767.48 million for the quarter, compared to the consensus estimate of $788.32 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, equities analysts anticipate that Toro Co will post 3.37 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd will be given a $0.25 dividend. The ex-dividend date is Friday, June 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.48%. Toro’s dividend payout ratio is currently 33.33%.
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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