The Toro Company (NYSE:TTC) Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. grew its stake in shares of The Toro Company (NYSE:TTC) by 8.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,147 shares of the company’s stock after acquiring an additional 500 shares during the period. Wesbanco Bank Inc.’s holdings in Toro were worth $533,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Rise Advisors LLC lifted its holdings in shares of Toro by 2,057.1% during the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 288 shares during the last quarter. UMB Bank n.a. grew its position in Toro by 112.1% during the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after purchasing an additional 333 shares in the last quarter. 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 period. Headlands Technologies LLC purchased a new stake in shares of Toro in the first quarter valued at $66,000. Finally, Riverview Trust Co acquired a new stake in shares of Toro in the first quarter worth $72,000. 87.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Toro Stock Up 1.1 %

Shares of Toro stock opened at $84.80 on Thursday. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 22.26 and a beta of 0.68. The stock has a 50-day simple moving average of $86.80 and a 200-day simple moving average of $88.73. The Toro Company has a 52-week low of $77.15 and a 52-week high of $102.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85.

Toro (NYSE:TTC) last posted 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). Toro had a net margin of 8.89% and a return on equity of 25.94%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm earned $0.95 earnings per share. Toro’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.70%. The ex-dividend date was Monday, September 30th. Toro’s payout ratio is 37.80%.

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.