XTX Topco Ltd Makes New Investment in The Toro Company (NYSE:TTC)

XTX Topco Ltd acquired a new stake in shares of The Toro Company (NYSE:TTC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 18,300 shares of the company’s stock, valued at approximately $1,711,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TTC. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Toro by 21.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,641 shares of the company’s stock worth $900,000 after buying an additional 1,689 shares during the last quarter. Amalgamated Bank lifted its holdings in Toro by 0.5% in the second quarter. Amalgamated Bank now owns 58,348 shares of the company’s stock valued at $5,456,000 after acquiring an additional 290 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Toro by 9.7% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 53,865 shares of the company’s stock valued at $5,037,000 after acquiring an additional 4,752 shares during the period. Argent Trust Co acquired a new stake in shares of Toro during the 2nd quarter worth approximately $368,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Toro during the 2nd quarter valued at approximately $1,919,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Stock Performance

NYSE:TTC opened at $85.50 on Friday. The company has a fifty day moving average of $90.52 and a two-hundred day moving average of $89.43. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. The stock has a market capitalization of $8.77 billion, a PE ratio of 33.79 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.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, September 5th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts forecast that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, September 30th. Toro’s dividend payout ratio is presently 56.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TTC. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Northland Securities reiterated a “market perform” rating and issued a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. Robert W. Baird dropped their target price on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, DA Davidson reduced their price target on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Toro has an average rating of “Hold” and a consensus price target 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.