The Toro Company (NYSE:TTC) Shares Sold by Tobam

Tobam lessened its stake in The Toro Company (NYSE:TTC) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,497 shares of the company’s stock after selling 5,211 shares during the quarter. Tobam’s holdings in Toro were worth $5,420,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Toro by 25.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock valued at $609,626,000 after acquiring an additional 1,332,248 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Toro by 73.8% in the fourth quarter. Wellington Management Group LLP now owns 1,845,724 shares of the company’s stock valued at $177,171,000 after purchasing an additional 783,794 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Toro by 37,332.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock valued at $44,034,000 after purchasing an additional 469,643 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Toro by 682.7% in the second quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock valued at $45,085,000 after purchasing an additional 420,539 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Toro by 11,970.3% during the second quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock worth $36,750,000 after acquiring an additional 389,752 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analysts Set New Price Targets

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

Toro Stock Down 2.4 %

NYSE:TTC traded down $2.04 during midday trading on Thursday, reaching $82.07. The company had a trading volume of 339,650 shares, compared to its average volume of 894,152. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 33.24 and a beta of 0.68. The stock’s fifty day simple moving average is $87.52 and its 200-day simple moving average is $88.98. The Toro Company has a 12-month low of $77.15 and a 12-month 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 announced its quarterly 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 business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. On average, sell-side analysts anticipate that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Monday, September 30th. Toro’s dividend payout ratio (DPR) is 56.92%.

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.