California State Teachers Retirement System Sells 1,949 Shares of The Toro Company (NYSE:TTC)

California State Teachers Retirement System reduced its stake in shares of The Toro Company (NYSE:TTC) by 1.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 152,921 shares of the company’s stock after selling 1,949 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Toro worth $14,012,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TTC. Vanguard Group Inc. grew its holdings in shares of Toro by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock valued at $968,083,000 after purchasing an additional 73,719 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Toro by 25.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock valued at $609,626,000 after buying an additional 1,332,248 shares during the last quarter. Mairs & Power Inc. increased its holdings in shares of Toro by 0.6% in the fourth quarter. Mairs & Power Inc. now owns 3,225,547 shares of the company’s stock worth $309,620,000 after buying an additional 18,899 shares during the period. Champlain Investment Partners LLC boosted its holdings in Toro by 11.5% during the 1st quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company’s stock valued at $249,751,000 after acquiring an additional 280,855 shares during the period. Finally, Wellington Management Group LLP grew its position in Toro by 73.8% during the 4th quarter. Wellington Management Group LLP now owns 1,845,724 shares of the company’s stock worth $177,171,000 after acquiring an additional 783,794 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Stock Down 3.0 %

NYSE TTC opened at $90.40 on Friday. The business’s 50-day moving average is $91.68 and its 200 day moving average is $90.75. The stock has a market capitalization of $9.39 billion, a PE ratio of 36.81 and a beta of 0.69. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87. The Toro Company has a 1 year low of $77.15 and a 1 year high of $104.23.

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

Toro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 18th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, June 18th. Toro’s payout ratio is 56.92%.

Insider Activity at Toro

In other Toro news, CEO Richard M. Olson sold 20,000 shares of Toro stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the sale, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at approximately $1,705,138.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.