The Toro Company (NYSE:TTC) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its position in shares of The Toro Company (NYSE:TTC - Free Report) by 6.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,265 shares of the company's stock after selling 6,103 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Toro worth $7,973,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in shares of Toro by 1,204.8% in the 1st 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 raised its position in shares of Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 288 shares in the last quarter. Principal Securities Inc. purchased a new stake in Toro during the fourth quarter worth approximately $66,000. Headlands Technologies LLC acquired a new position in Toro in the first quarter valued at approximately $66,000. Finally, Covestor Ltd increased its stake in 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 during the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Insiders Place Their Bets

In related news, CEO Richard M. Olson sold 20,000 shares of Toro stock in a transaction that occurred on 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 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 this link. 1.62% of the stock is currently owned by insiders.

Toro Stock Performance

Shares of TTC traded down $0.56 during mid-day trading on Wednesday, hitting $82.22. 829,065 shares of the company's stock were exchanged, compared to its average volume of 890,486. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. The business's 50 day moving average is $91.21 and its two-hundred day moving average is $89.78. The firm has a market capitalization of $8.44 billion, a P/E ratio of 32.72 and a beta of 0.69.

Toro (NYSE:TTC - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). Toro had a return on equity of 25.94% and a net margin of 8.89%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts expect that The Toro Company will post 4.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TTC shares. StockNews.com upgraded shares of Toro from a "hold" rating to a "buy" rating in a research report on Monday. Northland Securities restated a "market perform" rating and issued a $100.00 price objective on shares of Toro in a research note on Friday, September 6th. DA Davidson cut their target price on Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Robert W. Baird decreased their target price on Toro from $102.00 to $92.00 and set a "neutral" rating for the company in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Toro presently 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.