Mercer Global Advisors Inc. ADV Has $299,000 Stake in The Toro Company (NYSE:TTC)

Mercer Global Advisors Inc. ADV lowered its position in The Toro Company (NYSE:TTC) by 18.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the company’s stock after selling 738 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Toro were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TTC. 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 during the period. Rise Advisors LLC increased its position in Toro by 2,057.1% during the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 288 shares during the last quarter. Headlands Technologies LLC bought a new stake in Toro in the first quarter valued at approximately $66,000. Covestor Ltd lifted its position in shares of Toro by 522.6% in the first quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after buying an additional 601 shares during the last quarter. Finally, Riverview Trust Co bought a new position in shares of Toro during the 1st quarter worth approximately $72,000. Institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

Toro Stock Performance

TTC opened at $86.65 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The business has a fifty day simple moving average of $89.25 and a 200 day simple moving average of $89.22. The Toro Company has a 1 year low of $77.15 and a 1 year high of $102.00. The company has a market capitalization of $8.89 billion, a PE ratio of 34.25 and a beta of 0.69.

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). Toro had a net margin of 8.89% and a return on equity of 25.94%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $0.95 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Research analysts expect that The Toro Company will post 4.16 EPS for the current year.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.36 dividend. 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 1.66%. Toro’s payout ratio is 56.92%.

Toro 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.