Nemes Rush Group LLC Lowers Stock Position in The Toro Company (NYSE:TTC)

Nemes Rush Group LLC cut its stake in shares of The Toro Company (NYSE:TTC) by 11.2% in the second quarter, HoldingsChannel reports. The fund owned 3,160 shares of the company’s stock after selling 400 shares during the period. Nemes Rush Group LLC’s holdings in Toro were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in 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 purchasing an additional 253 shares in the last quarter. Rise Advisors LLC boosted its holdings 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 period. Headlands Technologies LLC purchased a new stake in Toro in the 1st quarter worth $66,000. Covestor Ltd increased 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 buying an additional 601 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in Toro during the first quarter valued at about $72,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Price Performance

NYSE:TTC opened at $86.65 on Friday. The business’s 50-day moving average is $89.25 and its 200 day moving average is $89.21. The Toro Company has a 12 month low of $77.15 and a 12 month high of $102.00. The company has a market capitalization of $8.89 billion, a P/E ratio of 34.25 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.

Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, September 5th. The company reported $1.18 earnings per share (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 last year, the company earned $0.95 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The firm 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. The ex-dividend date is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.66%. Toro’s payout ratio is currently 56.92%.

Analysts Set New Price Targets

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

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.