GAMMA Investing LLC Buys 2,504 Shares of The Toro Company (NYSE:TTC)

GAMMA Investing LLC increased its position in shares of The Toro Company (NYSE:TTC) by 635.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,898 shares of the company’s stock after buying an additional 2,504 shares during the quarter. GAMMA Investing LLC’s holdings in Toro were worth $271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Evoke Wealth LLC bought a new stake in Toro during the 4th quarter valued at $2,479,000. Vanguard Group Inc. boosted its stake in Toro by 1.0% during 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 increased its holdings in Toro by 334.2% during the 4th quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock worth $78,545,000 after purchasing an additional 629,820 shares in the last quarter. Cim LLC bought a new position in shares of Toro in the fourth quarter valued at approximately $12,882,000. Finally, Bank of Nova Scotia boosted its holdings in Toro by 5,261.3% during the 4th quarter. Bank of Nova Scotia now owns 132,209 shares of the company’s stock worth $12,690,000 after acquiring an additional 129,743 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Toro Stock Performance

NYSE:TTC traded up $0.32 during trading hours on Monday, reaching $91.23. The stock had a trading volume of 782,179 shares, compared to its average volume of 896,860. The Toro Company has a 12-month low of $77.15 and a 12-month high of $104.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.93. The stock has a 50 day simple moving average of $91.84 and a 200 day simple moving average of $90.76. The stock has a market cap of $9.48 billion, a P/E ratio of 35.93 and a beta of 0.69.

Toro (NYSE:TTC) last issued its earnings results on Thursday, June 6th. The company reported $1.40 earnings per share 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 analyst estimates of $1.34 billion. During the same quarter last year, the business earned $1.58 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts forecast that The Toro Company will post 4.32 EPS for the current fiscal year.

Toro Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Richard M. Olson sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at approximately $1,705,138.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.62% of the stock is owned by company insiders.

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.