Select Equity Group L.P. Has $516.12 Million Stake in The Toro Company (NYSE:TTC)

Select Equity Group L.P. grew its holdings in The Toro Company (NYSE:TTC) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,519,407 shares of the company’s stock after purchasing an additional 88,536 shares during the quarter. Toro comprises 2.0% of Select Equity Group L.P.’s portfolio, making the stock its 15th biggest holding. Select Equity Group L.P. owned approximately 5.31% of Toro worth $516,120,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. UMB Bank n.a. increased its position in Toro by 1,204.8% in the 1st quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after buying 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 acquiring an additional 288 shares during the period. Covestor Ltd raised its stake in Toro by 522.6% during the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after purchasing an additional 601 shares during the last quarter. Headlands Technologies LLC bought a new stake in Toro in the 1st quarter valued at $66,000. Finally, Riverview Trust Co acquired a new stake in Toro in the 1st quarter worth $72,000. 87.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. DA Davidson cut their price objective on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Northland Securities reiterated a “market perform” rating and issued a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, 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. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Toro presently has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Stock Performance

NYSE:TTC opened at $86.63 on Friday. The firm has a market capitalization of $8.89 billion, a PE ratio of 34.24 and a beta of 0.69. 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 12-month low of $77.15 and a 12-month high of $102.00. The firm has a 50-day moving average price of $89.46 and a 200 day moving average price of $89.23.

Toro (NYSE:TTC) last issued 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). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.95 earnings per share. Research analysts anticipate that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.36 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.66%. Toro’s dividend payout ratio is presently 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.