Principal Financial Group Inc. increased its stake in Toro Co. (NYSE:TTC) by 14.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,583 shares of the company’s stock after buying an additional 27,065 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of Toro worth $18,662,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Toro by 7.6% in the second quarter. JPMorgan Chase & Co. now owns 1,609,708 shares of the company’s stock valued at $141,976,000 after buying an additional 113,560 shares in the last quarter. State Street Corp increased its stake in shares of Toro by 0.8% in the first quarter. State Street Corp now owns 1,492,939 shares of the company’s stock valued at $128,575,000 after buying an additional 12,436 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Toro by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,152,270 shares of the company’s stock valued at $101,631,000 after buying an additional 19,240 shares in the last quarter. Norges Bank bought a new stake in shares of Toro during the fourth quarter valued at about $34,407,000. Finally, Wellington Management Group LLP increased its stake in shares of Toro by 5.9% in the first quarter. Wellington Management Group LLP now owns 360,861 shares of the company’s stock valued at $31,078,000 after buying an additional 20,071 shares in the last quarter. 37.47% of the stock is owned by institutional investors.
Toro Co. (NYSE:TTC) traded down 0.288% on Monday, reaching $46.705. 58,365 shares of the company were exchanged. The company’s 50-day moving average price is $47.79 and its 200-day moving average price is $45.04. The stock has a market capitalization of $5.11 billion, a P/E ratio of 23.399 and a beta of 0.49. Toro Co. has a 12-month low of $32.36 and a 12-month high of $49.50.
Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, August 18th. The company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The company earned $601 million during the quarter, compared to analyst estimates of $623.79 million. Toro had a net margin of 9.33% and a return on equity of 43.50%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. Equities research analysts anticipate that Toro Co. will post $2.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, September 29th. Toro’s dividend payout ratio (DPR) is presently 29.93%.
Several equities research analysts have recently issued reports on TTC shares. Zacks Investment Research raised shares of Toro from a “sell” rating to a “hold” rating in a research report on Saturday, September 3rd. Sidoti downgraded shares of Toro from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research report on Friday, June 10th. Finally, Northcoast Research reissued a “neutral” rating on shares of Toro in a research report on Thursday, June 30th. Five investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of C$45.67.
In other Toro news, VP William E. Brown, Jr. sold 6,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of C$98.34, for a total transaction of C$590,040.00. Following the sale, the vice president now directly owns 93,469 shares of the company’s stock, valued at C$9,191,741.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.94% of the company’s stock.
The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.
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