The Toro Company (NYSE:TTC) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its holdings in The Toro Company (NYSE:TTC) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,800 shares of the company’s stock after acquiring an additional 500 shares during the period. Daiwa Securities Group Inc.’s holdings in Toro were worth $676,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TTC. Allspring Global Investments Holdings LLC grew its position in shares of Toro by 37,332.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock valued at $44,034,000 after purchasing an additional 469,643 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Toro by 682.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock valued at $45,085,000 after acquiring an additional 420,539 shares during the last quarter. Millennium Management LLC grew its holdings 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 purchasing an additional 389,752 shares during the period. Nuance Investments LLC acquired a new stake in Toro during the third quarter worth about $29,146,000. Finally, Marshall Wace LLP purchased a new position in Toro during the second quarter worth about $25,166,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TTC shares. Robert W. Baird cut their price target 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. DA Davidson reduced their target price 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 reaffirmed a “market perform” rating and issued a $100.00 price target on shares of Toro in a research note on Friday, September 6th. Finally, StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $93.33.

Toro Stock Up 0.2 %

Shares of NYSE TTC opened at $87.08 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $84.00 and its two-hundred day moving average is $87.88. The Toro Company has a 52-week low of $77.15 and a 52-week high of $102.00. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 22.86 and a beta of 0.69.

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

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio (DPR) is currently 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.