Covestor Ltd cut its stake in The Toro Company (NYSE:TTC – Free Report) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 736 shares of the company’s stock after selling 212 shares during the period. Covestor Ltd’s holdings in Toro were worth $64,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its stake in Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after purchasing an additional 333 shares during the last quarter. Headlands Technologies LLC bought a new stake in Toro during the first quarter valued at $66,000. Whittier Trust Co. of Nevada Inc. increased its stake in Toro by 850.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after purchasing an additional 765 shares during the last quarter. Fifth Third Bancorp increased its stake in Toro by 22.4% during the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares during the last quarter. Finally, CWM LLC increased its stake in Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after purchasing an additional 143 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Northland Securities reiterated a “market perform” rating and set a $100.00 target price on shares of Toro in a research note on Friday, September 6th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. DA Davidson lowered their price target 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. Finally, Robert W. Baird lowered their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Toro presently has a consensus rating of “Hold” and an average target price of $93.33.
Toro Stock Down 0.7 %
Toro stock opened at $82.10 on Friday. The company has a 50-day simple moving average of $83.88 and a 200-day simple moving average of $88.22. The firm has a market capitalization of $8.42 billion, a P/E ratio of 21.55 and a beta of 0.69. 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 Toro Company has a one year low of $77.15 and a one year high of $102.00.
Toro (NYSE:TTC – Get Free Report) last announced 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 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 quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. As a group, equities analysts expect that The Toro Company will post 4.16 earnings per share for the current year.
Toro Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a yield of 1.75%. Toro’s dividend payout ratio is presently 37.80%.
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.
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