Bishop Rock Capital L.P. grew its holdings in shares of Toro Co (NYSE:TTC) by 50.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 179,599 shares of the company’s stock after buying an additional 60,095 shares during the quarter. Toro accounts for about 4.3% of Bishop Rock Capital L.P.’s investment portfolio, making the stock its 15th biggest position. Bishop Rock Capital L.P. owned 0.17% of Toro worth $12,364,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc lifted its holdings in Toro by 1.3% during the third quarter. Vanguard Group Inc now owns 9,813,887 shares of the company’s stock worth $588,539,000 after buying an additional 125,843 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Toro by 13.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,771 shares of the company’s stock worth $434,000 after purchasing an additional 911 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Toro by 2.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,796 shares of the company’s stock worth $939,000 after purchasing an additional 368 shares in the last quarter. Rhumbline Advisers increased its position in shares of Toro by 27.7% during the fourth quarter. Rhumbline Advisers now owns 309,564 shares of the company’s stock worth $17,298,000 after purchasing an additional 67,206 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new position in shares of Toro during the fourth quarter worth $565,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.
In related news, VP Amy E. Dahl sold 2,900 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $68.87, for a total value of $199,723.00. Following the completion of the sale, the vice president now directly owns 14,779 shares of the company’s stock, valued at $1,017,829.73. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.36% of the stock is owned by insiders.
Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, May 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.04). The firm had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $987.80 million. Toro had a return on equity of 40.99% and a net margin of 10.62%. Toro’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. On average, equities analysts expect that Toro Co will post 2.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Tuesday, June 25th will be given a $0.225 dividend. The ex-dividend date is Monday, June 24th. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. Toro’s dividend payout ratio (DPR) is presently 33.71%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Toro from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Thursday, April 11th. Sidoti set a $72.00 target price on Toro and gave the company a “hold” rating in a research report on Tuesday, June 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $69.00.
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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