Accel Wealth Management Raises Holdings in The Toro Company (NYSE:TTC)

Accel Wealth Management increased its holdings in The Toro Company (NYSE:TTC) by 19.9% in the 1st quarter, HoldingsChannel reports. The fund owned 2,510 shares of the company’s stock after purchasing an additional 416 shares during the quarter. Accel Wealth Management’s holdings in Toro were worth $230,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TTC. Vanguard Group Inc. lifted its stake 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 purchasing an additional 103,300 shares in the last quarter. Mairs & Power Inc. lifted its stake in Toro by 0.6% during the fourth quarter. Mairs & Power Inc. now owns 3,225,547 shares of the company’s stock worth $309,620,000 after purchasing an additional 18,899 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Toro by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 2,675,185 shares of the company’s stock worth $222,308,000 after purchasing an additional 61,806 shares in the last quarter. Wellington Management Group LLP lifted its stake in Toro by 73.8% during the fourth quarter. Wellington Management Group LLP now owns 1,845,724 shares of the company’s stock worth $177,171,000 after purchasing an additional 783,794 shares in the last quarter. Finally, Norges Bank acquired a new position in Toro during the fourth quarter worth $103,785,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Stock Performance

NYSE TTC opened at $90.02 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.61. The Toro Company has a 52-week low of $77.15 and a 52-week high of $106.68. The business’s 50-day moving average price is $89.14 and its 200 day moving average price is $90.68. The firm has a market cap of $9.35 billion, a P/E ratio of 35.58 and a beta of 0.69.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, June 6th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Toro had a net margin of 6.00% and a return on equity of 25.04%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. On average, equities research analysts expect that The Toro Company will post 4.33 earnings per share for the current year.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 18th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, June 18th. Toro’s dividend payout ratio (DPR) is 56.92%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com cut Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. DA Davidson increased their price objective on Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Finally, Robert W. Baird increased their price objective on Toro from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Toro presently has a consensus rating of “Hold” and an average price target of $98.75.

Insider Transactions at Toro

In other news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction that occurred on 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 owns 17,913 shares of the company’s stock, valued at approximately $1,705,138.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.62% of the company’s stock.

Toro 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.