Acadian Asset Management LLC Buys 34,761 Shares of The Toro Company (NYSE:TTC)

Acadian Asset Management LLC lifted its stake in The Toro Company (NYSE:TTC) by 37.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,361 shares of the company’s stock after acquiring an additional 34,761 shares during the period. Acadian Asset Management LLC owned 0.12% of The Toro worth $13,242,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Cim LLC raised its stake in shares of The Toro by 659.6% in the 1st quarter. Cim LLC now owns 91,006 shares of the company’s stock valued at $10,556,000 after acquiring an additional 79,026 shares in the last quarter. Teacher Retirement System of Texas increased its position in The Toro by 22.4% in the 1st quarter. Teacher Retirement System of Texas now owns 11,983 shares of the company’s stock worth $1,236,000 after buying an additional 2,191 shares during the period. Fiera Capital Corp increased its position in The Toro by 91.8% in the 1st quarter. Fiera Capital Corp now owns 7,673 shares of the company’s stock worth $792,000 after buying an additional 3,672 shares during the period. GW&K Investment Management LLC increased its position in The Toro by 13.3% in the 1st quarter. GW&K Investment Management LLC now owns 630,732 shares of the company’s stock worth $65,054,000 after buying an additional 73,861 shares during the period. Finally, Vontobel Holding Ltd. increased its position in The Toro by 903.1% in the 1st quarter. Vontobel Holding Ltd. now owns 43,807 shares of the company’s stock worth $4,518,000 after buying an additional 39,440 shares during the period. 81.62% of the stock is currently owned by institutional investors and hedge funds.

TTC opened at $106.13 on Friday. The company has a market capitalization of $11.36 billion, a PE ratio of 31.12, a PEG ratio of 3.05 and a beta of 0.78. The company has a current ratio of 1.78, a quick ratio of 0.95 and a debt-to-equity ratio of 0.59. The Toro Company has a 1 year low of $63.07 and a 1 year high of $118.13. The company’s 50 day moving average price is $110.81.

The Toro (NYSE:TTC) last released its quarterly earnings data on Wednesday, June 2nd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.11 billion. The Toro had a return on equity of 32.43% and a net margin of 10.65%. The Toro’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. Analysts anticipate that The Toro Company will post 3.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 14th. Stockholders of record on Tuesday, June 22nd will be given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Monday, June 21st. The Toro’s dividend payout ratio is presently 34.77%.

Separately, Zacks Investment Research downgraded The Toro from a “buy” rating to a “hold” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $104.33.

In related news, CEO Richard M. Olson sold 10,000 shares of the business’s stock in a transaction on Thursday, March 25th. The stock was sold at an average price of $102.38, for a total value of $1,023,800.00. Following the sale, the chief executive officer now owns 21,049 shares of the company’s stock, valued at approximately $2,154,996.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Katherine J. Harless sold 1,152 shares of the business’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $104.16, for a total value of $119,992.32. Following the completion of the sale, the director now directly owns 71,669 shares in the company, valued at approximately $7,465,043.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,560 shares of company stock worth $1,806,755. 1.80% of the stock is currently owned by company insiders.

The Toro Company Profile

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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Institutional Ownership by Quarter for The Toro (NYSE:TTC)

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