Texas Permanent School Fund Corp Buys 1,661 Shares of The Toro Company (NYSE:TTC)

Texas Permanent School Fund Corp grew its stake in The Toro Company (NYSE:TTC) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,368 shares of the company’s stock after acquiring an additional 1,661 shares during the period. Texas Permanent School Fund Corp owned 0.09% of Toro worth $8,372,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Evoke Wealth LLC bought a new position in shares of Toro in the 4th quarter valued at about $2,479,000. Vanguard Group Inc. lifted its stake in Toro by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,491,409 shares of the company’s stock valued at $1,007,070,000 after purchasing an additional 103,300 shares during the last quarter. TD Asset Management Inc lifted its stake in Toro by 334.2% in the 4th quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock valued at $78,545,000 after purchasing an additional 629,820 shares during the last quarter. Cim LLC acquired a new stake in Toro in the 4th quarter valued at about $12,882,000. Finally, Bank of Nova Scotia lifted its stake in Toro by 5,261.3% in the 4th quarter. Bank of Nova Scotia now owns 132,209 shares of the company’s stock valued at $12,690,000 after purchasing an additional 129,743 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Price Performance

NYSE:TTC traded up $2.92 during mid-day trading on Thursday, reaching $91.17. The stock had a trading volume of 762,868 shares, compared to its average volume of 898,365. The stock has a 50-day simple moving average of $89.28 and a two-hundred day simple moving average of $90.49. The stock has a market capitalization of $9.47 billion, a PE ratio of 36.04 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 12 month low of $77.15 and a 12 month high of $106.68.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, June 6th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Toro had a net margin of 6.00% and a return on equity of 25.04%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. On average, equities analysts anticipate that The Toro Company will post 4.33 earnings per share for the current year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 18th were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, June 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.58%. Toro’s payout ratio is presently 56.92%.

Insiders Place Their Bets

In other Toro news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were 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 owns 17,913 shares of the company’s stock, valued at $1,705,138.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TTC. Robert W. Baird raised their price objective on shares of Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. DA Davidson raised their price objective on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, StockNews.com downgraded shares of Toro from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.