Signition LP acquired a new stake in Toro Co (NYSE:TTC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,334 shares of the company’s stock, valued at approximately $283,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its stake in Toro by 96.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock valued at $25,357,000 after purchasing an additional 179,968 shares in the last quarter. Schroder Investment Management Group increased its stake in Toro by 51.9% in the 3rd quarter. Schroder Investment Management Group now owns 162,983 shares of the company’s stock valued at $10,084,000 after purchasing an additional 55,702 shares in the last quarter. Pacer Advisors Inc. increased its stake in Toro by 15.5% in the 3rd quarter. Pacer Advisors Inc. now owns 18,127 shares of the company’s stock valued at $1,125,000 after purchasing an additional 2,439 shares in the last quarter. Sei Investments Co. grew its holdings in Toro by 40.5% during the 3rd quarter. Sei Investments Co. now owns 35,507 shares of the company’s stock valued at $2,204,000 after buying an additional 10,240 shares during the last quarter. Finally, Retirement Systems of Alabama grew its holdings in Toro by 47.0% during the 3rd quarter. Retirement Systems of Alabama now owns 203,894 shares of the company’s stock valued at $12,654,000 after buying an additional 65,203 shares during the last quarter. 74.48% of the stock is owned by hedge funds and other institutional investors.
In other Toro news, VP David H. Alkire sold 23,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the sale, the vice president now owns 14,769 shares in the company, valued at approximately $972,243.27. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Timothy P. Dordell sold 46,000 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $66.07, for a total value of $3,039,220.00. Following the sale, the vice president now owns 24,225 shares in the company, valued at approximately $1,600,545.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,000 shares of company stock worth $4,814,630. 5.69% of the stock is owned by insiders.
Toro (NYSE:TTC) last announced its earnings results on Thursday, December 7th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $491.55 million. Toro had a return on equity of 44.66% and a net margin of 10.69%. Toro’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. equities research analysts forecast that Toro Co will post 2.62 earnings per share for the current year.
Separately, Zacks Investment Research upgraded Toro from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, December 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $69.00.
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The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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