Victory Capital Management Inc. Sells 3,341,770 Shares of The Toro Company (NYSE:TTC)

Victory Capital Management Inc. lowered its holdings in shares of The Toro Company (NYSE:TTC) by 98.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,327 shares of the company’s stock after selling 3,341,770 shares during the period. Victory Capital Management Inc.’s holdings in Toro were worth $4,538,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Toro by 25.0% in the first 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 last quarter. Allspring Global Investments Holdings LLC boosted its position in Toro by 37,332.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock valued at $44,034,000 after buying an additional 469,643 shares during the period. Point72 Asset Management L.P. grew its holdings in Toro by 682.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after acquiring an additional 420,539 shares during the last quarter. Millennium Management LLC increased its position in shares of Toro by 11,970.3% in the second quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock valued at $36,750,000 after acquiring an additional 389,752 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Toro during the second quarter valued at about $25,166,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

TTC has been the topic of several research analyst reports. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. DA Davidson dropped their target price 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. Northland Securities reiterated a “market perform” rating and set a $100.00 price target on shares of Toro in a research report on Friday, September 6th. Finally, Robert W. Baird lowered their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Toro has an average rating of “Hold” and a consensus price target of $93.33.

Toro Stock Up 1.6 %

Shares of Toro stock opened at $85.11 on Friday. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 22.34 and a beta of 0.69. The company’s 50 day moving average is $83.82 and its 200 day moving average is $87.97. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00. 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 issued its quarterly earnings data on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. Research analysts anticipate that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.36 per share. The ex-dividend date was Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a yield of 1.69%. 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.