Acadian Asset Management LLC lifted its position in shares of The Toro Company (NYSE:TTC) by 131.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,864 shares of the company’s stock after acquiring an additional 32,283 shares during the quarter. Acadian Asset Management LLC owned 0.05% of The Toro worth $4,774,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Norway Savings Bank purchased a new stake in The Toro during the third quarter worth about $34,000. Cubist Systematic Strategies LLC boosted its holdings in The Toro by 23.4% during the second quarter. Cubist Systematic Strategies LLC now owns 31,064 shares of the company’s stock worth $2,061,000 after buying an additional 5,900 shares in the last quarter. Strs Ohio purchased a new stake in The Toro during the second quarter worth about $1,239,000. Raymond James & Associates boosted its holdings in The Toro by 1.1% during the second quarter. Raymond James & Associates now owns 235,813 shares of the company’s stock worth $15,644,000 after buying an additional 2,663 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in The Toro during the third quarter worth about $2,176,000. Institutional investors and hedge funds own 81.77% of the company’s stock.
In related news, CFO Renee J. Peterson sold 76,800 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $82.70, for a total transaction of $6,351,360.00. Following the completion of the transaction, the chief financial officer now owns 54,258 shares of the company’s stock, valued at $4,487,136.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy E. Dahl sold 1,996 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $82.07, for a total transaction of $163,811.72. Following the transaction, the vice president now directly owns 18,889 shares of the company’s stock, valued at approximately $1,550,220.23. The disclosure for this sale can be found here. In the last three months, insiders sold 106,145 shares of company stock valued at $8,783,617. Company insiders own 1.77% of the company’s stock.
The Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $841.00 million during the quarter, compared to analyst estimates of $772.58 million. The Toro had a net margin of 9.04% and a return on equity of 32.58%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. As a group, sell-side analysts expect that The Toro Company will post 2.86 earnings per share for the current fiscal year.
A number of analysts recently commented on the stock. Raymond James reissued a “hold” rating on shares of The Toro in a report on Thursday, September 3rd. Colliers Securities reaffirmed a “neutral” rating on shares of The Toro in a report on Friday, September 4th. Zacks Investment Research raised shares of The Toro from a “sell” rating to a “hold” rating in a report on Thursday, August 6th. Finally, Robert W. Baird raised shares of The Toro from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $88.00 in a report on Friday, September 4th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $82.00.
The Toro 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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