Price T Rowe Associates Inc. MD Has $609.63 Million Position in The Toro Company (NYSE:TTC)

Price T Rowe Associates Inc. MD raised its position in The Toro Company (NYSE:TTC) by 25.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,653,109 shares of the company’s stock after buying an additional 1,332,248 shares during the period. Price T Rowe Associates Inc. MD owned 6.37% of Toro worth $609,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOKF NA boosted its position in Toro by 4.5% in the first quarter. BOKF NA now owns 10,392 shares of the company’s stock valued at $922,000 after buying an additional 451 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Toro in the first quarter valued at about $328,000. Epoch Investment Partners Inc. boosted its position in Toro by 23.3% in the first quarter. Epoch Investment Partners Inc. now owns 566,666 shares of the company’s stock valued at $51,924,000 after buying an additional 106,949 shares in the last quarter. Gabelli Funds LLC boosted its position in Toro by 19.6% in the first quarter. Gabelli Funds LLC now owns 55,000 shares of the company’s stock valued at $5,040,000 after buying an additional 9,000 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Toro in the first quarter valued at about $166,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $95.19, for a total value of $1,903,800.00. Following the transaction, the chief executive officer now directly owns 17,913 shares in the company, valued at $1,705,138.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Robert W. Baird boosted their price target on shares of Toro from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $98.75.

Toro Price Performance

Shares of NYSE TTC traded up $0.19 during trading on Monday, reaching $96.95. The company had a trading volume of 127,582 shares, compared to its average volume of 891,176. The Toro Company has a 52 week low of $77.15 and a 52 week high of $104.70. The stock has a market cap of $10.07 billion, a PE ratio of 38.25 and a beta of 0.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.93. The business’s 50 day moving average price is $90.96 and its 200-day moving average price is $90.60.

Toro (NYSE:TTC) last announced its earnings results on Thursday, June 6th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Toro had a net margin of 6.00% and a return on equity of 25.04%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 earnings per share. Analysts expect that The Toro Company will post 4.32 earnings per share for the current year.

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 18th were issued a $0.36 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $1.44 annualized dividend and a yield of 1.49%. Toro’s dividend payout ratio is currently 56.92%.

Toro Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.