Toro Co. (NYSE:TTC) announced a quarterly dividend on Tuesday, September 20th. Investors of record on Monday, October 3rd will be given a dividend of 0.15 per share on Friday, October 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, September 29th.
Shares of Toro (NYSE:TTC) opened at 47.29 on Wednesday. The company has a 50 day moving average of $47.77 and a 200 day moving average of $44.97. The company has a market cap of $5.17 billion, a PE ratio of 23.69 and a beta of 0.57. Toro has a 1-year low of $32.35 and a 1-year high of $49.50.
Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, August 18th. The company reported $1.00 EPS for the quarter, topping the 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 had revenue of $601 million for the quarter, compared to analysts’ expectations of $623.79 million. During the same period in the previous year, the firm posted $0.94 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts expect that Toro will post $2.01 earnings per share for the current fiscal year.
In other news, VP William E. Brown, Jr. sold 6,000 shares of the business’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 transaction, the vice president now directly owns 93,469 shares in the company, valued at approximately C$9,191,741.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Hoffman sold 125,600 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of C$86.46, for a total transaction of C$10,859,376.00. The disclosure for this sale can be found here. Insiders own 5.94% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new position in Toro during the second quarter valued at $20,944,000. BlackRock Investment Management LLC raised its position in shares of Toro by 3.1% in the second quarter. BlackRock Investment Management LLC now owns 156,263 shares of the company’s stock worth $13,782,000 after buying an additional 4,738 shares during the period. BlackRock Inc. raised its position in shares of Toro by 12.1% in the second quarter. BlackRock Inc. now owns 46,682 shares of the company’s stock worth $4,117,000 after buying an additional 5,041 shares during the period. BlackRock Fund Advisors raised its position in shares of Toro by 5.1% in the second quarter. BlackRock Fund Advisors now owns 1,951,413 shares of the company’s stock worth $172,115,000 after buying an additional 95,281 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Toro by 2.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,631,190 shares of the company’s stock worth $143,871,000 after buying an additional 41,342 shares during the period. Institutional investors own 74.95% of the company’s stock.
Several brokerages have commented on TTC. Zacks Investment Research raised shares of Toro from a “sell” rating to a “hold” rating in a research report on Saturday, September 3rd. Northcoast Research reissued a “neutral” rating on shares of Toro in a research report on Thursday, June 30th. Finally, Sidoti cut shares of Toro from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Friday, June 10th. Five research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of C$45.67.
Toro Company Profile
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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