The Toro Company (NYSE:TTC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in shares of The Toro Company (NYSE:TTC) by 34.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,997 shares of the company’s stock after selling 20,880 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Toro were worth $3,647,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TTC. UMB Bank n.a. grew its position in Toro by 1,204.8% in the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after acquiring an additional 253 shares during the period. Rise Advisors LLC raised its stake in Toro by 2,057.1% in the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 288 shares in the last quarter. Principal Securities Inc. acquired a new stake in Toro in the fourth quarter valued at $66,000. Covestor Ltd grew its holdings in shares of Toro by 522.6% during the first quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after purchasing an additional 601 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Toro during the first quarter worth about $66,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Stock Performance

Shares of Toro stock opened at $86.36 on Wednesday. The firm has a market cap of $8.97 billion, a PE ratio of 34.13 and a beta of 0.69. The firm’s 50-day simple moving average is $90.70 and its 200-day simple moving average is $89.48. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The Toro Company has a 1 year low of $77.15 and a 1 year high of $102.00.

Toro (NYSE:TTC) last issued its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 EPS. Equities analysts forecast that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TTC. Northland Securities reissued a “market perform” rating and set a $100.00 price target on shares of Toro in a report on Friday, September 6th. Robert W. Baird reduced their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Finally, DA Davidson lowered their target price on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $93.33.

Insider Activity at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the completion of 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 legal filing with the SEC, which is available through this link. Insiders own 1.62% of the company’s stock.

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.