Edgestream Partners L.P. Takes Position in The Toro Company (NYSE:TTC)

Edgestream Partners L.P. purchased a new position in The Toro Company (NYSE:TTC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,525 shares of the company’s stock, valued at approximately $1,919,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TTC. UMB Bank n.a. grew its position in shares of 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 in the last quarter. Rise Advisors LLC raised its position in shares of Toro by 2,057.1% during the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 288 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Toro in the fourth quarter worth $66,000. Headlands Technologies LLC bought a new stake in Toro in the 1st quarter valued at $66,000. Finally, Covestor Ltd lifted its stake in Toro by 522.6% in the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after purchasing an additional 601 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. DA Davidson decreased 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. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Robert W. Baird reduced their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Toro presently has an average rating of “Hold” and an average price target of $93.33.

Toro Price Performance

NYSE:TTC opened at $85.50 on Friday. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 33.79 and a beta of 0.69. 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 50 day simple moving average of $90.52 and a 200-day simple moving average of $89.43. The Toro Company has a 1 year low of $77.15 and a 1 year high of $102.00.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that The Toro Company will post 4.16 EPS for the current year.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Monday, September 30th. Toro’s payout ratio is currently 56.92%.

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.