BNP Paribas Financial Markets Purchases 20,783 Shares of The Toro Company (NYSE:TTC)

BNP Paribas Financial Markets boosted its holdings in shares of The Toro Company (NYSE:TTC) by 59.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,621 shares of the company’s stock after acquiring an additional 20,783 shares during the period. BNP Paribas Financial Markets’ holdings in Toro were worth $4,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in shares of 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 in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Toro by 850.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after acquiring an additional 765 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Toro by 22.4% in the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after acquiring an additional 166 shares during the period. Rothschild Investment LLC bought a new position in shares of Toro in the 2nd quarter worth $94,000. Finally, CWM LLC lifted its stake in shares of Toro by 15.5% during the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Stock Performance

TTC opened at $86.35 on Wednesday. The company has a market cap of $8.86 billion, a P/E ratio of 22.66 and a beta of 0.70. 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 firm’s 50-day moving average price is $84.01 and its 200-day moving average price is $87.82. The Toro Company has a 52-week low of $77.15 and a 52-week high of $102.00.

Toro (NYSE:TTC) last posted its quarterly 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 analysts’ expectations of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. As a group, equities analysts anticipate that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.36 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.67%. Toro’s dividend payout ratio (DPR) is presently 37.80%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. DA Davidson cut their price objective on shares of 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 reissued a “market perform” rating and set a $100.00 target price on shares of Toro in a research report on Friday, September 6th. Finally, Robert W. Baird reduced their price target on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Three equities 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, the company presently has a consensus rating of “Hold” and a consensus target price of $93.33.

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.