Cerity Partners LLC Buys 12,157 Shares of The Toro Company (NYSE:TTC)

Cerity Partners LLC increased its position in The Toro Company (NYSE:TTC) by 49.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,927 shares of the company’s stock after buying an additional 12,157 shares during the period. Cerity Partners LLC’s holdings in Toro were worth $3,203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in Toro by 28.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,096 shares of the company’s stock valued at $284,000 after purchasing an additional 679 shares in the last quarter. Tidal Investments LLC increased its position in shares of Toro by 19.1% during the first quarter. Tidal Investments LLC now owns 10,671 shares of the company’s stock worth $978,000 after acquiring an additional 1,709 shares in the last quarter. Comerica Bank raised its holdings in shares of Toro by 1.7% in the 1st quarter. Comerica Bank now owns 58,265 shares of the company’s stock worth $5,339,000 after acquiring an additional 958 shares during the last quarter. Atria Investments Inc bought a new position in Toro in the 1st quarter valued at about $1,139,000. Finally, GAMMA Investing LLC boosted its stake in Toro by 635.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,898 shares of the company’s stock valued at $271,000 after purchasing an additional 2,504 shares during the last quarter. 87.95% of the stock is owned by institutional investors.

Toro Stock Up 0.2 %

TTC stock opened at $87.08 on Friday. The stock has a market cap of $8.94 billion, a P/E ratio of 22.86 and a beta of 0.69. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $84.00 and its two-hundred day simple moving average is $87.88. The Toro Company has a 1-year low of $77.15 and a 1-year high of $102.00.

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

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.36 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.44 annualized dividend and a yield of 1.65%. Toro’s payout ratio is 37.80%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. DA Davidson dropped their price objective 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 reduced their target price on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Northland Securities reissued a “market perform” rating and set a $100.00 price target on shares of Toro in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Toro presently has an average rating of “Hold” and a consensus target price of $93.33.

Toro Company 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.