Royal Bank of Canada Reduces Position in Toro Company (The) $TTC

Royal Bank of Canada lessened its stake in shares of Toro Company (The) (NYSE:TTC) by 10.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 148,384 shares of the company’s stock after selling 17,138 shares during the period. Royal Bank of Canada’s holdings in Toro were worth $10,796,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Baird Financial Group Inc. lifted its holdings in Toro by 5.3% during the fourth quarter. Baird Financial Group Inc. now owns 4,396 shares of the company’s stock valued at $352,000 after purchasing an additional 220 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Toro in the fourth quarter valued at approximately $220,000. OMERS ADMINISTRATION Corp grew its holdings in Toro by 20.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,350 shares of the company’s stock worth $348,000 after acquiring an additional 737 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Toro during the 4th quarter worth approximately $1,091,000. Finally, Nissay Asset Management Corp Japan ADV lifted its position in shares of Toro by 18.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 24,746 shares of the company’s stock worth $2,005,000 after buying an additional 3,791 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Stock Up 1.8%

Toro stock opened at $79.87 on Friday. Toro Company has a 52 week low of $62.34 and a 52 week high of $89.50. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $76.60 and its two-hundred day moving average price is $73.62. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 24.20 and a beta of 0.80.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, September 4th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.02. Toro had a net margin of 7.37% and a return on equity of 28.98%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $1.18 EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. On average, analysts expect that Toro Company will post 4.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of Toro from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Longbow Research upgraded shares of Toro from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday, August 25th. Northland Securities lifted their price target on shares of Toro from $80.00 to $90.00 and gave the company a “market perform” rating in a research report on Tuesday. Raymond James Financial reduced their target price on shares of Toro from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, June 6th. Finally, Northland Capmk cut shares of Toro from a “strong-buy” rating to a “hold” rating in a report on Friday, June 6th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $92.60.

Insider Activity at Toro

In related news, VP Kurt D. Svendsen sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $70.99, for a total transaction of $425,940.00. Following the completion of the sale, the vice president directly owned 11,646 shares in the company, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

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.