The Toro Company (NYSE:TTC) Stock Holdings Lowered by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in The Toro Company (NYSE:TTC) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,779 shares of the company’s stock after selling 2,425 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Toro were worth $5,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings 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 valued at $25,000 after buying an additional 253 shares during the last quarter. Rise Advisors LLC boosted its position in Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after acquiring an additional 288 shares during the period. Principal Securities Inc. bought a new position in shares of Toro in the fourth quarter worth $66,000. Covestor Ltd increased its holdings in shares of 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. Finally, Headlands Technologies LLC bought a new stake in shares of Toro during the first quarter valued at about $66,000. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Stock Performance

NYSE:TTC opened at $84.91 on Friday. The company has a 50-day moving average of $90.38 and a 200-day moving average of $89.36. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 33.56 and a beta of 0.69. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00.

Toro (NYSE:TTC) last issued 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). The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 earnings per share. Analysts forecast that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. 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. DA Davidson cut their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Finally, Northland Securities reiterated a “market perform” rating and set a $100.00 price target on shares of Toro in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $93.33.

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.