The Toro Company (NYSE:TTC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in The Toro Company (NYSE:TTC) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,394,097 shares of the company’s stock after selling 333,810 shares during the period. Victory Capital Management Inc. owned 3.27% of Toro worth $317,382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Consolidated Planning Corp raised its holdings in shares of Toro by 16.4% during the second quarter. Consolidated Planning Corp now owns 55,772 shares of the company’s stock worth $5,215,000 after purchasing an additional 7,876 shares during the period. Simon Quick Advisors LLC raised its holdings in shares of Toro by 71.6% during the second quarter. Simon Quick Advisors LLC now owns 5,685 shares of the company’s stock worth $532,000 after purchasing an additional 2,372 shares during the period. Versor Investments LP acquired a new stake in shares of Toro during the second quarter worth $637,000. Natixis Advisors LLC grew its position in shares of Toro by 16.0% during the second quarter. Natixis Advisors LLC now owns 27,290 shares of the company’s stock worth $2,552,000 after acquiring an additional 3,764 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Toro during the second quarter worth about $533,000. 87.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $95.19, for a total value of $1,903,800.00. Following the completion of the transaction, the chief executive officer now owns 17,913 shares in the company, valued at approximately $1,705,138.47. The sale 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.

Toro Stock Down 10.1 %

Toro stock opened at $81.81 on Friday. The company has a 50-day simple moving average of $91.99 and a 200-day simple moving average of $90.12. The firm has a market capitalization of $8.50 billion, a P/E ratio of 32.34 and a beta of 0.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.93. The Toro Company has a one year low of $77.15 and a one year high of $102.00.

Toro (NYSE:TTC) last announced its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. Toro had a net margin of 6.00% and a return on equity of 25.04%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. As a group, equities analysts expect that The Toro Company will post 4.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $96.75.

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.