Retirement Systems of Alabama Trims Holdings in The Toro Company (NYSE:TTC)

Retirement Systems of Alabama cut its stake in The Toro Company (NYSE:TTC) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 150,431 shares of the company’s stock after selling 2,244 shares during the quarter. Retirement Systems of Alabama owned about 0.14% of Toro worth $14,067,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. grew its position in shares of Toro by 1,204.8% in the first 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 position in shares of 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 purchasing an additional 288 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Toro in the fourth quarter valued at $42,000. Principal Securities Inc. purchased a new position in shares of Toro in the fourth quarter valued at $66,000. Finally, Covestor Ltd grew its position in shares of Toro by 522.6% in the first quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after purchasing an additional 601 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Toro

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 value of $1,903,800.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.62% of the company’s stock.

Toro Price Performance

Toro stock traded up $0.83 during midday trading on Friday, hitting $90.95. 428,358 shares of the company’s stock were exchanged, compared to its average volume of 870,010. The stock has a 50-day moving average price of $92.55 and a two-hundred day moving average price of $90.37. 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 quick ratio of 0.87 and a current ratio of 1.93. The company has a market cap of $9.45 billion, a P/E ratio of 35.94 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 analysts’ consensus estimates of $1.29 by $0.11. Toro had a return on equity of 25.04% and a net margin of 6.00%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business earned $1.58 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts forecast that The Toro Company will post 4.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.