State of Michigan Retirement System Raises Holdings in The Toro Company (NYSE:TTC)

State of Michigan Retirement System boosted its holdings in shares of The Toro Company (NYSE:TTC) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,632 shares of the company’s stock after buying an additional 700 shares during the quarter. State of Michigan Retirement System’s holdings in Toro were worth $2,349,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Values First Advisors Inc. increased its holdings in Toro by 0.6% during the fourth quarter. Values First Advisors Inc. now owns 17,216 shares of the company’s stock valued at $1,653,000 after buying an additional 110 shares during the period. Natixis Advisors L.P. grew its holdings in Toro by 0.5% in the fourth quarter. Natixis Advisors L.P. now owns 25,092 shares of the company’s stock worth $2,408,000 after purchasing an additional 137 shares during the last quarter. Fifth Third Bancorp grew its holdings in Toro by 30.2% in the fourth quarter. Fifth Third Bancorp now owns 621 shares of the company’s stock worth $60,000 after purchasing an additional 144 shares during the last quarter. PrairieView Partners LLC grew its holdings in Toro by 13.5% in the fourth quarter. PrairieView Partners LLC now owns 1,345 shares of the company’s stock worth $129,000 after purchasing an additional 160 shares during the last quarter. Finally, Willis Investment Counsel grew its holdings in Toro by 4.8% in the fourth quarter. Willis Investment Counsel now owns 3,660 shares of the company’s stock worth $351,000 after purchasing an additional 167 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on TTC shares. StockNews.com lowered shares of Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. DA Davidson lifted their price target on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Finally, Robert W. Baird lifted their price target on shares of Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.75.

Insider Activity at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 17,913 shares in the company, valued at $1,705,138.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.62% of the stock is currently owned by insiders.

Toro Price Performance

Shares of TTC opened at $90.02 on Thursday. The firm has a market capitalization of $9.35 billion, a PE ratio of 35.58 and a beta of 0.69. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87. The Toro Company has a 1-year low of $77.15 and a 1-year high of $106.68. The company’s fifty day moving average price is $89.08 and its 200-day moving average price is $90.68.

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

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 18th were given a dividend of $0.36 per share. 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 1.60%. Toro’s dividend payout ratio is presently 56.92%.

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.