Van ECK Associates Corp Sells 19,645 Shares of The Toro Company (NYSE:TTC)

Van ECK Associates Corp cut its holdings in The Toro Company (NYSE:TTC) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,638 shares of the company’s stock after selling 19,645 shares during the period. Van ECK Associates Corp owned about 0.19% of Toro worth $18,855,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TTC. Evoke Wealth LLC bought a new position in Toro in the 4th quarter valued at $2,479,000. Vanguard Group Inc. increased its holdings in Toro by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 10,491,409 shares of the company’s stock worth $1,007,070,000 after buying an additional 103,300 shares during the last quarter. TD Asset Management Inc raised its position in Toro by 334.2% in the fourth quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock worth $78,545,000 after acquiring an additional 629,820 shares during the period. Cim LLC purchased a new position in Toro in the fourth quarter valued at about $12,882,000. Finally, Boston Trust Walden Corp grew its position in shares of Toro by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after acquiring an additional 9,371 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird upped their price objective on Toro from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Toro currently has an average rating of “Hold” and an average price target of $99.25.

Insider Buying and Selling

In other news, CEO Richard M. Olson sold 20,000 shares of the company’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 sale, the chief executive officer now directly owns 17,913 shares in the company, valued at $1,705,138.47. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.62% of the stock is currently owned by insiders.

Toro Stock Performance

Shares of TTC traded up $0.67 during trading hours on Friday, hitting $92.60. The company’s stock had a trading volume of 1,633,127 shares, compared to its average volume of 599,177. The business has a 50 day simple moving average of $92.02 and a two-hundred day simple moving average of $90.19. The Toro Company has a 52-week low of $77.15 and a 52-week high of $104.23. 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 company has a market cap of $9.62 billion, a price-to-earnings ratio of 36.60 and a beta of 0.69.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, June 6th. The company reported $1.40 earnings per share for the quarter, beating 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 business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business earned $1.58 EPS. Toro’s revenue was up .7% compared to the same quarter last year. On average, equities analysts expect that The Toro Company will post 4.32 earnings per share for the current fiscal year.

Toro Company 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.