Panagora Asset Management Inc. Trims Stock Position in The Toro Company (NYSE:TTC)

Panagora Asset Management Inc. reduced its stake in The Toro Company (NYSE:TTC) by 41.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,012 shares of the company’s stock after selling 2,175 shares during the period. Panagora Asset Management Inc.’s holdings in Toro were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TTC. Evoke Wealth LLC purchased a new position in Toro in the 4th quarter valued at $2,479,000. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 103,300 shares during the period. TD Asset Management Inc raised its holdings in Toro by 334.2% during the fourth quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock worth $78,545,000 after purchasing an additional 629,820 shares in the last quarter. Cim LLC acquired a new stake in Toro in the fourth quarter valued at about $12,882,000. Finally, Boston Trust Walden Corp boosted its holdings in Toro by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after purchasing an additional 9,371 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird increased their target price on Toro from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. One equities 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $99.25.

Insider Activity at Toro

In other Toro news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction 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 directly owns 17,913 shares in the company, valued at $1,705,138.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.62% of the stock is currently owned by company insiders.

Toro Stock Performance

Shares of TTC opened at $91.00 on Thursday. The company has a market capitalization of $9.45 billion, a PE ratio of 35.97 and a beta of 0.69. The Toro Company has a 52-week low of $77.15 and a 52-week high of $103.12. The company has a 50-day simple moving average of $91.99 and a 200-day simple moving average of $90.12. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.61.

Toro (NYSE:TTC) last issued its earnings results on Thursday, June 6th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Toro had a net margin of 6.00% and a return on equity of 25.04%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $1.58 earnings per share. Equities research analysts predict that The Toro Company will post 4.32 earnings per share for the current fiscal year.

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.