State Board of Administration of Florida Retirement System Acquires 3,215 Shares of The Toro Company (NYSE:TTC)

State Board of Administration of Florida Retirement System increased its holdings in The Toro Company (NYSE:TTC) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,264 shares of the company’s stock after purchasing an additional 3,215 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of Toro worth $10,837,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC bought a new position in shares of Toro during the 4th quarter worth approximately $26,000. UMB Bank n.a. boosted its stake in shares of Toro by 1,204.8% in the 1st quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after purchasing an additional 253 shares in the last quarter. Rise Advisors LLC grew its holdings in shares of Toro by 2,057.1% in the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 288 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Toro during the 4th quarter worth about $42,000. Finally, Fifth Third Bancorp lifted its holdings in Toro by 30.2% during the 4th quarter. Fifth Third Bancorp now owns 621 shares of the company’s stock valued at $60,000 after purchasing an additional 144 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird upped their price objective on shares of Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Toro currently has a consensus rating of “Hold” and an average target price of $98.75.

Toro Stock Performance

Shares of NYSE:TTC opened at $97.35 on Friday. The Toro Company has a twelve month low of $77.15 and a twelve month high of $104.70. The business has a fifty day moving average of $90.30 and a 200-day moving average of $90.46. 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 firm has a market cap of $10.11 billion, a PE ratio of 38.48 and a beta of 0.69.

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

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 18th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $1.44 dividend on an annualized basis and a yield of 1.48%. Toro’s payout ratio is presently 56.92%.

Insiders Place Their Bets

In other news, CEO Richard M. Olson sold 20,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 17,913 shares in the company, valued at approximately $1,705,138.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.62% of the company’s stock.

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.