Herndon Capital Management LLC reduced its position in shares of Toro Co. (NYSE:TTC) by 40.9% during the second quarter, Holdings Channel reports. The fund owned 10,750 shares of the company’s stock after selling 7,431 shares during the period. Herndon Capital Management LLC’s holdings in Toro were worth $948,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the stock. Creative Planning increased its stake in Toro by 2.3% in the second quarter. Creative Planning now owns 1,492 shares of the company’s stock worth $132,000 after buying an additional 33 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Toro by 234.5% in the second quarter. Advisory Services Network LLC now owns 1,880 shares of the company’s stock valued at $166,000 after buying an additional 1,318 shares in the last quarter. Reynolds Capital Management LLC purchased a new position in shares of Toro during the first quarter valued at approximately $267,000. Murphy Capital Management Inc. increased its position in shares of Toro by 4.7% in the second quarter. Murphy Capital Management Inc. now owns 3,350 shares of the company’s stock valued at $295,000 after buying an additional 150 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Toro by 74.3% in the second quarter. LS Investment Advisors LLC now owns 3,412 shares of the company’s stock valued at $301,000 after buying an additional 1,454 shares in the last quarter. Institutional investors own 38.38% of the company’s stock.
Toro Co. (NYSE:TTC) traded down 0.17% during mid-day trading on Wednesday, hitting $47.10. 442,349 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $47.35 and its 200-day moving average price is $45.39. Toro Co. has a 12 month low of $32.35 and a 12 month high of $49.50. The stock has a market cap of $5.15 billion, a PE ratio of 23.60 and a beta of 0.49.
Toro (NYSE:TTC) last released its earnings results on Thursday, August 18th. The company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. Toro had a net margin of 9.33% and a return on equity of 43.50%. The firm earned $601 million during the quarter, compared to the consensus estimate of $623.79 million. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. Equities analysts expect that Toro Co. will post $2.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Thursday, September 29th. Toro’s dividend payout ratio is currently 29.93%.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Toro from a “sell” rating to a “hold” rating in a research report on Saturday, September 3rd. Northcoast Research restated 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 stock presently has an average rating of “Hold” and an average price target of C$45.67.
In related news, VP William E. Brown, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of C$98.34, for a total value of C$590,040.00. Following the completion of the transaction, the vice president now directly owns 93,469 shares of the company’s stock, valued at approximately C$9,191,741.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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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