Truist Financial Corp Sells 590 Shares of The Toro Company (NYSE:TTC)

Truist Financial Corp lessened its stake in The Toro Company (NYSE:TTC) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,341 shares of the company’s stock after selling 590 shares during the period. Truist Financial Corp’s holdings in Toro were worth $4,928,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Toro by 25.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,180,246 shares of the company’s stock worth $347,378,000 after acquiring an additional 835,637 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Toro by 2.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,675,185 shares of the company’s stock worth $222,308,000 after acquiring an additional 61,806 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Toro by 20.3% during the 3rd quarter. Invesco Ltd. now owns 1,209,725 shares of the company’s stock worth $100,528,000 after acquiring an additional 204,542 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Toro by 249.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,061,930 shares of the company’s stock worth $88,246,000 after acquiring an additional 757,641 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Toro by 4.2% during the 3rd quarter. Northern Trust Corp now owns 926,094 shares of the company’s stock worth $76,958,000 after acquiring an additional 37,589 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Analyst Ratings Changes

TTC has been the topic of several analyst reports. TheStreet upgraded shares of Toro from a “c+” rating to a “b-” rating in a research note on Thursday, February 15th. DA Davidson lifted their target price on shares of Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Finally, StockNews.com cut shares of Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $105.60.

Insider Transactions at Toro

In other news, Director Gary Lee Ellis sold 5,192 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.75, for a total value of $460,790.00. Following the sale, the director now directly owns 33,051 shares in the company, valued at approximately $2,933,276.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Gary Lee Ellis sold 5,192 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.75, for a total value of $460,790.00. Following the sale, the director now directly owns 33,051 shares in the company, valued at approximately $2,933,276.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Edric C. Funk sold 615 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $89.57, for a total transaction of $55,085.55. Following the completion of the sale, the vice president now owns 1,049 shares in the company, valued at $93,958.93. The disclosure for this sale can be found here. Insiders own 1.62% of the company’s stock.

Toro Stock Performance

Shares of NYSE TTC opened at $88.31 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 2.13. The company has a market cap of $9.22 billion, a P/E ratio of 32.23 and a beta of 0.72. The firm’s fifty day moving average is $88.76 and its two-hundred day moving average is $89.05. The Toro Company has a 52-week low of $78.35 and a 52-week high of $108.50.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Toro had a net margin of 6.53% and a return on equity of 26.66%. The business’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. As a group, analysts anticipate that The Toro Company will post 4.3 EPS for the current fiscal year.

Toro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 1.63%. Toro’s dividend payout ratio is currently 52.55%.

About Toro

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.