Rockland Trust Co. Has $205,000 Stock Position in The Toro Company (NYSE:TTC)

Rockland Trust Co. trimmed its holdings in The Toro Company (NYSE:TTC) by 98.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,196 shares of the company’s stock after selling 158,043 shares during the quarter. Rockland Trust Co.’s holdings in Toro were worth $205,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TTC. International Assets Investment Management LLC increased its position in Toro by 9,500.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,744 shares of the company’s stock worth $359,000 after purchasing an additional 3,705 shares during the period. Cerity Partners LLC acquired a new position in Toro in the fourth quarter valued at approximately $530,000. SVB Wealth LLC boosted its stake in Toro by 8.3% in the fourth quarter. SVB Wealth LLC now owns 3,410 shares of the company’s stock valued at $327,000 after acquiring an additional 261 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Toro by 6.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the company’s stock worth $634,000 after acquiring an additional 400 shares during the period. Finally, abrdn plc acquired a new stake in Toro during the 4th quarter worth $247,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lifted their price objective on Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. One investment 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. According to MarketBeat, Toro presently has an average rating of “Hold” and an average target price of $98.75.

Toro Stock Performance

NYSE TTC traded down $0.48 on Thursday, hitting $90.29. 117,059 shares of the stock were exchanged, compared to its average volume of 870,738. 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 business’s fifty day moving average is $92.77 and its 200 day moving average is $90.39. The company has a market capitalization of $9.38 billion, a PE ratio of 35.88 and a beta of 0.69. The Toro Company has a 52 week low of $77.15 and a 52 week high of $104.23.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, June 6th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. Toro had a net margin of 6.00% and a return on equity of 25.04%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts anticipate that The Toro Company will post 4.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $95.19, for a total value of $1,903,800.00. Following the completion of the transaction, 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 can be accessed through the SEC website. Corporate insiders own 1.62% of the company’s stock.

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.