Sanctuary Advisors LLC Invests $1.22 Million in The Toro Company (NYSE:TTC)

Sanctuary Advisors LLC acquired a new position in The Toro Company (NYSE:TTC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 13,929 shares of the company’s stock, valued at approximately $1,219,000.

Several other large investors have also recently modified their holdings of TTC. UMB Bank n.a. increased its holdings in shares of Toro by 1,204.8% in the first 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 holdings in shares of Toro by 2,057.1% in the first 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 position in shares of Toro in the first quarter worth about $66,000. Covestor Ltd increased its holdings in shares of Toro by 522.6% in the first quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after buying an additional 601 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of Toro in the first quarter worth about $72,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Stock Performance

Toro stock opened at $82.28 on Friday. The stock’s 50 day simple moving average is $87.30 and its two-hundred day simple moving average is $88.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 32.52 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.

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

Toro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.75%. Toro’s dividend payout ratio is currently 56.92%.

Analyst Ratings Changes

Several analysts recently issued reports on TTC shares. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. DA Davidson cut their target price on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Robert W. Baird cut their target price on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, Northland Securities reissued a “market perform” rating and issued a $100.00 target price on shares of Toro in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.