Kayne Anderson Rudnick Investment Management LLC Has $445.67 Million Stock Holdings in The Toro Company (NYSE:TTC)

Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of The Toro Company (NYSE:TTC) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,766,046 shares of the company’s stock after purchasing an additional 65,800 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Toro were worth $445,673,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TTC. Arizona State Retirement System raised its position in Toro by 0.4% during the second quarter. Arizona State Retirement System now owns 28,680 shares of the company’s stock worth $2,682,000 after acquiring an additional 110 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Toro by 0.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company’s stock valued at $4,405,000 after purchasing an additional 123 shares during the period. Fifth Third Bancorp lifted its stake in Toro by 22.4% in the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares during the last quarter. UMB Bank n.a. grew its holdings in Toro by 1,204.8% during the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after purchasing an additional 253 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Toro by 3.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,099 shares of the company’s stock worth $777,000 after buying an additional 257 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Price Performance

Shares of NYSE TTC opened at $84.91 on Friday. The business’s 50 day moving average is $90.38 and its 200-day moving average is $89.36. The firm has a market cap of $8.71 billion, a P/E ratio of 33.56 and a beta of 0.69. The Toro Company has a 1-year low of $77.15 and a 1-year high of $102.00. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last posted its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share 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 analyst estimates of $1.26 billion. During the same period in the prior year, the business posted $0.95 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that The Toro Company will post 4.16 earnings per share for the current year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.70%. Toro’s payout ratio is presently 56.92%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TTC. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Robert W. Baird cut their price target on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Northland Securities reaffirmed a “market perform” rating and set a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. Finally, DA Davidson dropped their price objective on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.33.

Toro Company Profile

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.