Acadian Asset Management LLC Boosts Stake in The Toro Company (NYSE:TTC)

Acadian Asset Management LLC increased its stake in shares of The Toro Company (NYSE:TTC) by 131.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 56,864 shares of the company’s stock after purchasing an additional 32,283 shares during the period. Acadian Asset Management LLC owned approximately 0.05% of The Toro worth $4,774,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CI Investments Inc. purchased a new position in The Toro in the 3rd quarter valued at approximately $82,000. Jackson Creek Investment Advisors LLC purchased a new position in The Toro in the 3rd quarter valued at approximately $239,000. ClariVest Asset Management LLC purchased a new position in The Toro in the 3rd quarter valued at approximately $3,511,000. National Asset Management Inc. purchased a new position in The Toro in the 3rd quarter valued at approximately $324,000. Finally, Victory Capital Management Inc. boosted its position in The Toro by 308.2% in the 3rd quarter. Victory Capital Management Inc. now owns 806,432 shares of the company’s stock valued at $67,700,000 after buying an additional 608,869 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.

The Toro stock opened at $89.56 on Friday. The stock has a market cap of $9.61 billion, a P/E ratio of 32.81, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72. The company has a fifty day simple moving average of $85.61 and a 200-day simple moving average of $75.14. The Toro Company has a 12-month low of $52.07 and a 12-month high of $90.18. The company has a current ratio of 1.74, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74.

The Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.26. The Toro had a net margin of 9.04% and a return on equity of 32.58%. The firm had revenue of $841.00 million for the quarter, compared to analyst estimates of $772.58 million. During the same period last year, the business earned $0.83 EPS. The Toro’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that The Toro Company will post 2.86 earnings per share for the current fiscal year.

Several brokerages have commented on TTC. Robert W. Baird raised shares of The Toro from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $88.00 in a research report on Friday, September 4th. Raymond James reaffirmed a “hold” rating on shares of The Toro in a research report on Thursday, September 3rd. Zacks Investment Research raised shares of The Toro from a “sell” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Colliers Securities reaffirmed a “neutral” rating on shares of The Toro in a research report on Friday, September 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The Toro presently has a consensus rating of “Hold” and a consensus target price of $82.00.

In other The Toro news, Director Janet Katherine Cooper sold 8,383 shares of The Toro 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 transaction, the director now directly owns 12,208 shares in the company, valued at $981,279.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Amy E. Dahl sold 1,996 shares of The Toro stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $82.07, for a total transaction of $163,811.72. Following the completion of the transaction, the vice president now owns 18,889 shares in the company, valued at $1,550,220.23. The disclosure for this sale can be found here. Insiders have sold a total of 106,145 shares of company stock worth $8,783,617 over the last quarter. 1.77% of the stock is owned by company 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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Institutional Ownership by Quarter for The Toro (NYSE:TTC)

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