State of New Jersey Common Pension Fund D Has $5.75 Million Stock Holdings in The Toro Company (NYSE:TTC)

State of New Jersey Common Pension Fund D boosted its stake in The Toro Company (NYSE:TTC) by 8.0% during the 4th quarter, HoldingsChannel reports. The fund owned 59,877 shares of the company’s stock after acquiring an additional 4,411 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Toro were worth $5,748,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TTC. Envestnet Asset Management Inc. boosted its holdings in Toro by 24.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 128,430 shares of the company’s stock valued at $10,673,000 after purchasing an additional 25,228 shares during the period. Parsons Capital Management Inc. RI acquired a new position in shares of Toro during the fourth quarter valued at about $2,304,000. Raymond James & Associates grew its holdings in shares of Toro by 23.3% during the fourth quarter. Raymond James & Associates now owns 265,204 shares of the company’s stock valued at $25,457,000 after buying an additional 50,105 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Toro by 8.9% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 130,375 shares of the company’s stock worth $10,834,000 after acquiring an additional 10,616 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Toro by 15.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 42,813 shares of the company’s stock worth $3,558,000 after acquiring an additional 5,612 shares during the period. 87.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. DA Davidson boosted their price target on shares of Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. StockNews.com cut shares of Toro from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Finally, TheStreet upgraded shares of Toro from a “c+” rating to a “b-” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $105.60.

Toro Trading Up 0.9 %

Shares of TTC traded up $0.80 during trading hours on Friday, reaching $87.52. 419,610 shares of the company traded hands, compared to its average volume of 720,515. The stock’s fifty day moving average price is $89.44 and its 200 day moving average price is $88.92. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 31.65 and a beta of 0.72. The Toro Company has a 12-month low of $78.35 and a 12-month high of $108.50. The company has a current ratio of 2.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76.

Toro (NYSE:TTC) last issued its earnings results on Thursday, March 7th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion. Toro had a return on equity of 26.66% and a net margin of 6.53%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. Sell-side analysts forecast that The Toro Company will post 4.3 earnings per share for the current year.

Toro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Thursday, March 28th. Toro’s dividend payout ratio (DPR) is presently 52.55%.

Insider Activity

In other Toro news, Director Gary Lee Ellis sold 5,192 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the transaction, the director now owns 33,051 shares in the company, valued at approximately $2,933,276.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Toro news, VP Edric C. Funk sold 615 shares of Toro stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $89.57, for a total transaction of $55,085.55. Following the completion of the transaction, the vice president now owns 1,049 shares in the company, valued at $93,958.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary Lee Ellis sold 5,192 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the transaction, the director now directly owns 33,051 shares of the company’s stock, valued at approximately $2,933,276.25. The disclosure for this sale can be found here. Insiders own 1.62% of the company’s stock.

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.