Inspire Investing LLC Acquires 5,049 Shares of The Toro Company (NYSE:TTC)

Inspire Investing LLC boosted its holdings in The Toro Company (NYSE:TTC) by 30.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,369 shares of the company’s stock after acquiring an additional 5,049 shares during the period. Inspire Investing LLC’s holdings in Toro were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Evoke Wealth LLC acquired a new position in Toro in the 4th quarter valued at $2,479,000. Vanguard Group Inc. grew its holdings in Toro by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,491,409 shares of the company’s stock valued at $1,007,070,000 after buying an additional 103,300 shares in the last quarter. TD Asset Management Inc grew its holdings in Toro by 334.2% in the 4th quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock valued at $78,545,000 after buying an additional 629,820 shares in the last quarter. Cim LLC acquired a new position in Toro in the 4th quarter valued at $12,882,000. Finally, Bank of Nova Scotia grew its holdings in Toro by 5,261.3% in the 4th quarter. Bank of Nova Scotia now owns 132,209 shares of the company’s stock valued at $12,690,000 after buying an additional 129,743 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Price Performance

Shares of TTC traded up $2.40 during trading hours on Tuesday, hitting $97.31. 231,127 shares of the company were exchanged, compared to its average volume of 897,272. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 37.79 and a beta of 0.69. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $104.70. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average is $89.48 and its 200 day moving average is $90.31.

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

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 18th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, June 18th. Toro’s dividend payout ratio (DPR) is presently 56.92%.

Analyst Upgrades and Downgrades

TTC has been the topic of a number of research reports. StockNews.com lowered Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Robert W. Baird increased their target price on Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Toro presently 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 firm’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 sale, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at $1,705,138.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.62% of the stock is currently owned by insiders.

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.