Toro Co (NYSE:TTC) VP Darren L. Redetzke sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 28th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the vice president now owns 13,065 shares of the company’s stock, valued at $783,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Toro opened at $60.25 on Friday, Marketbeat reports. The firm has a market capitalization of $6.31 billion, a P/E ratio of 23.06, a P/E/G ratio of 2.21 and a beta of 0.64. Toro Co has a 12-month low of $56.60 and a 12-month high of $73.86. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.48.
Toro (NYSE:TTC) last released its earnings results on Thursday, May 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.02. The firm had revenue of $875.30 million during the quarter, compared to analyst estimates of $901.26 million. Toro had a return on equity of 45.89% and a net margin of 10.08%. Toro’s revenue was up .3% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share. equities research analysts predict that Toro Co will post 2.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 11th. Investors of record on Friday, June 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, June 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.33%. Toro’s dividend payout ratio (DPR) is presently 33.20%.
Several research analysts have recently commented on the company. ValuEngine lowered Toro from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Cleveland Research lowered Toro from a “buy” rating to a “neutral” rating in a research report on Monday, May 14th. Zacks Investment Research lowered Toro from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Finally, Dougherty & Co upgraded Toro from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Monday, June 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $70.67.
A number of large investors have recently added to or reduced their stakes in TTC. The Manufacturers Life Insurance Company boosted its holdings in Toro by 12.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 179,792 shares of the company’s stock valued at $11,728,000 after purchasing an additional 19,912 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Toro by 43.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,610 shares of the company’s stock valued at $1,279,000 after purchasing an additional 5,900 shares during the period. Quadrature Capital Ltd purchased a new position in Toro in the fourth quarter valued at $551,000. Carillon Tower Advisers Inc. purchased a new position in Toro in the fourth quarter valued at $447,000. Finally, Commerce Bank boosted its holdings in Toro by 17.6% in the fourth quarter. Commerce Bank now owns 9,606 shares of the company’s stock valued at $627,000 after purchasing an additional 1,440 shares during the period. Hedge funds and other institutional investors own 75.43% of the company’s stock.
Toro Company Profile
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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