The Toro Company (NYSE:TTC) Stock Position Reduced by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its stake in The Toro Company (NYSE:TTC) by 64.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,714 shares of the company’s stock after selling 69,365 shares during the quarter. Hsbc Holdings PLC’s holdings in Toro were worth $3,614,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its holdings in shares of Toro by 3.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,099 shares of the company’s stock worth $777,000 after acquiring an additional 257 shares in the last quarter. UBS Group AG lifted its holdings in shares of Toro by 21.0% during the 4th quarter. UBS Group AG now owns 72,702 shares of the company’s stock valued at $6,979,000 after buying an additional 12,602 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Toro during the 4th quarter valued at about $1,536,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Toro by 12.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 28,136 shares of the company’s stock valued at $2,701,000 after buying an additional 3,018 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Toro by 76.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,147 shares of the company’s stock worth $206,000 after buying an additional 931 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TTC. Northland Securities reissued a “market perform” rating and issued a $100.00 target price on shares of Toro in a research report on Friday, September 6th. DA Davidson lowered their target price 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. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, Robert W. Baird decreased their price target on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $93.33.

Toro Stock Performance

Shares of TTC opened at $86.60 on Wednesday. The company has a market capitalization of $9.00 billion, a PE ratio of 34.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The Toro Company has a one year low of $77.15 and a one year high of $102.00. The company’s fifty day moving average price is $89.96 and its 200 day moving average price is $89.27.

Toro (NYSE:TTC) last posted 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). Toro had a return on equity of 25.94% and a net margin of 8.89%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts expect that The Toro Company will post 4.16 earnings per share for the current year.

Toro Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.66%. Toro’s payout ratio is 56.92%.

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.