National Bank of Canada FI Lowers Holdings in The Toro Company (NYSE:TTC)

National Bank of Canada FI trimmed its position in shares of The Toro Company (NYSE:TTC) by 13.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,479 shares of the company’s stock after selling 530 shares during the quarter. National Bank of Canada FI’s holdings in Toro were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TTC. UMB Bank n.a. boosted its stake in Toro by 1,204.8% during 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 last quarter. Rise Advisors LLC raised its position in Toro by 2,057.1% in the 1st 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. Principal Securities Inc. bought a new position in Toro during the 4th quarter valued at about $66,000. Headlands Technologies LLC bought a new stake in shares of Toro in the first quarter worth approximately $66,000. Finally, Covestor Ltd lifted its position in Toro by 522.6% during the first quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after purchasing an additional 601 shares during the period. Institutional investors own 87.95% of the company’s stock.

Toro Price Performance

Shares of Toro stock opened at $83.65 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The Toro Company has a 52 week low of $77.15 and a 52 week high of $102.00. The stock’s 50-day simple moving average is $90.92 and its 200-day simple moving average is $89.68. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 33.06 and a beta of 0.69.

Toro (NYSE:TTC) last announced its quarterly earnings data 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 company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business earned $0.95 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Northland Securities reiterated a “market perform” rating and set a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. DA Davidson dropped their target price on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Finally, Robert W. Baird lowered their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $93.33.

Insiders Place Their Bets

In other news, CEO Richard M. Olson sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the completion of the transaction, the chief executive officer now owns 17,913 shares in the company, valued at $1,705,138.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.