Cobiz Investment Management Lowers stake in Toro Co (TTC)

Toro Co (TTC) : Cobiz Investment Management reduced its stake in Toro Co by 2.85% during the most recent quarter end. The investment management company now holds a total of 52,503 shares of Toro Co which is valued at $4,766,747 after selling 1,540 shares in Toro Co , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Toro Co makes up approximately 1.16% of Cobiz Investment Management’s portfolio.

Other Hedge Funds, Including , Smithfield Trust Co added TTC to its portfolio by purchasing 2,460 company shares during the most recent quarter which is valued at $226,197. Toro Co makes up approx 0.04% of Smithfield Trust Co’s portfolio. Burt Wealth Advisors sold out all of its stake in TTC during the most recent quarter. The investment firm sold 10 shares of TTC which is valued $914.Checchi Capital Advisers boosted its stake in TTC in the latest quarter, The investment management firm added 24 additional shares and now holds a total of 195 shares of Toro Co which is valued at $17,813.Ibm Retirement Fund reduced its stake in TTC by selling 286 shares or 5.03% in the most recent quarter. The Hedge Fund company now holds 5,397 shares of TTC which is valued at $493,016. Toro Co makes up approx 0.02% of Ibm Retirement Fund’s portfolio.

Toro Co opened for trading at $90.88 and hit $91.83 on the upside on Thursday, eventually ending the session at $91.59, with a gain of 0.88% or 0.8 points. The heightened volatility saw the trading volume jump to 2,75,233 shares. Company has a market cap of $5,040 M.

On the company’s financial health, Toro Co reported $1.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 19, 2016. Analyst had a consensus of $1.80. The company had revenue of $836.40 million for the quarter, compared to analysts expectations of $853.87 million. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS.

Many Wall Street Analysts have commented on Toro Co. Toro Co was Downgraded by Sidoti to ” Neutral” on Jun 10, 2016. Seaport Global Securities Initiated Toro Co on May 24, 2016 to “Neutral”, Price Target of the shares are set at $87.

The Toro Company (Toro) designs manufactures and markets professional turf maintenance equipment and services turf irrigation systems landscaping equipment and lighting agricultural micro-irrigation systems rental and construction equipment and residential yard and snow removal products. The Company sells its products across the world through a network of distributors dealers hardware retailers home centers mass retailers and over the Internet under the names of Toro Exmark Irritrol Hayter Pope Unique Lighting Systems Lawn-Boy and Lawn Genie. The Company operates in three business segments: Professional through which the Company designs professional turf landscape and agricultural products and markets them across the world; Residential which markets its residential products to homeowners and Distribution which consists of the Company’s owned domestic distributorships.

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