The Toro Company (NYSE:TTC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of The Toro Company (NYSE:TTC) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,928 shares of the company’s stock after selling 1,966 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Toro worth $8,970,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Toro by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock worth $968,083,000 after purchasing an additional 73,719 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Toro by 25.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock worth $609,626,000 after purchasing an additional 1,332,248 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Toro by 1.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock worth $445,673,000 after purchasing an additional 65,800 shares during the period. Mairs & Power Inc. grew its holdings in shares of Toro by 0.6% during the 4th quarter. Mairs & Power Inc. now owns 3,225,547 shares of the company’s stock worth $309,620,000 after purchasing an additional 18,899 shares during the period. Finally, Champlain Investment Partners LLC grew its holdings in shares of Toro by 11.5% during the 1st quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company’s stock worth $249,751,000 after purchasing an additional 280,855 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

TTC has been the subject of a number of research reports. Robert W. Baird decreased their target price on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. DA Davidson decreased their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, Northland Securities restated a “market perform” rating and issued a $100.00 price target on shares of Toro in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $93.33.

Toro Stock Down 3.6 %

NYSE TTC opened at $83.95 on Friday. The stock has a market cap of $8.72 billion, a PE ratio of 33.18 and a beta of 0.68. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. The business has a 50 day moving average price of $88.25 and a two-hundred day moving average price of $89.11. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last released its earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 earnings per share. As a group, sell-side analysts predict that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Dividend Announcement

The firm 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 dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, September 30th. Toro’s dividend payout ratio (DPR) is currently 56.92%.

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.