Forsta AP Fonden Takes $1.98 Million Position in The Toro Company (NYSE:TTC)

Forsta AP Fonden bought a new position in The Toro Company (NYSE:TTC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 21,200 shares of the company’s stock, valued at approximately $1,982,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in Toro by 2.1% during the second quarter. American Century Companies Inc. now owns 25,759 shares of the company’s stock worth $2,409,000 after acquiring an additional 522 shares during the period. Daiwa Securities Group Inc. raised its stake in Toro by 5.8% during the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock worth $683,000 after purchasing an additional 400 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in Toro by 3.8% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 147,122 shares of the company’s stock valued at $13,757,000 after acquiring an additional 5,392 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Toro in the 2nd quarter valued at $547,000. Finally, Ellis Investment Partners LLC purchased a new position in Toro during the second quarter worth about $201,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Stock Performance

NYSE TTC opened at $84.73 on Tuesday. The company has a market capitalization of $8.80 billion, a P/E ratio of 33.49 and a beta of 0.69. The Toro Company has a 1-year low of $77.15 and a 1-year high of $102.00. The business has a 50 day moving average price of $90.72 and a 200 day moving average price of $89.52. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85.

Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. Sell-side analysts expect that The Toro Company will post 4.16 EPS for the current fiscal year.

Insider Activity at Toro

In other Toro news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 SEC, which is available through this link. 1.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TTC has been the subject of several research analyst reports. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. DA Davidson decreased their price target on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. 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. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $100.00 target price on shares of Toro in a report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $93.33.

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.