Raymond James Financial Services Advisors Inc. increased its holdings in The Toro Company (NYSE:TTC) by 14.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,450 shares of the company’s stock after buying an additional 2,408 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in The Toro were worth $1,633,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Norway Savings Bank purchased a new stake in The Toro during the third quarter valued at about $34,000. Cubist Systematic Strategies LLC boosted its stake in shares of The Toro by 23.4% during the second quarter. Cubist Systematic Strategies LLC now owns 31,064 shares of the company’s stock valued at $2,061,000 after purchasing an additional 5,900 shares during the period. Strs Ohio purchased a new stake in shares of The Toro during the second quarter valued at approximately $1,239,000. Raymond James & Associates boosted its stake in shares of The Toro by 1.1% during the second quarter. Raymond James & Associates now owns 235,813 shares of the company’s stock valued at $15,644,000 after purchasing an additional 2,663 shares during the period. Finally, Pacer Advisors Inc. purchased a new stake in The Toro in the third quarter worth $2,176,000. Institutional investors own 81.77% of the company’s stock.
A number of brokerages recently commented on TTC. Raymond James reaffirmed a “hold” rating on shares of The Toro in a research note on Thursday, September 3rd. Zacks Investment Research upgraded The Toro from a “sell” rating to a “hold” rating in a report on Thursday, August 6th. Robert W. Baird upgraded The Toro from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $88.00 in a report on Friday, September 4th. Finally, Colliers Securities reiterated a “neutral” rating on shares of The Toro in a report on Friday, September 4th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $82.00.
The Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. The Toro had a return on equity of 32.58% and a net margin of 9.04%. The company had revenue of $841.00 million for the quarter, compared to analysts’ expectations of $772.58 million. During the same period last year, the firm posted $0.83 earnings per share. The Toro’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that The Toro Company will post 2.86 earnings per share for the current fiscal year.
In related news, CFO Renee J. Peterson sold 76,800 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $82.70, for a total transaction of $6,351,360.00. Following the sale, the chief financial officer now directly owns 54,258 shares of the company’s stock, valued at $4,487,136.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Janet Katherine Cooper sold 8,383 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $80.38, for a total value of $673,825.54. Following the sale, the director now directly owns 12,208 shares in the company, valued at $981,279.04. The disclosure for this sale can be found here. Insiders have sold 106,145 shares of company stock worth $8,783,617 over the last ninety days. 1.77% of the stock is currently owned by insiders.
About The Toro
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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