Profund Advisors LLC Reduces Stake in The Toro Company (NYSE:TTC)

Profund Advisors LLC reduced its stake in shares of The Toro Company (NYSE:TTC) by 19.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,862 shares of the company’s stock after selling 693 shares during the quarter. Profund Advisors LLC’s holdings in Toro were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TTC. Price T Rowe Associates Inc. MD increased its position in shares of Toro by 25.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock valued at $609,626,000 after purchasing an additional 1,332,248 shares during the last quarter. Wellington Management Group LLP increased its position in Toro by 73.8% during the fourth quarter. Wellington Management Group LLP now owns 1,845,724 shares of the company’s stock valued at $177,171,000 after acquiring an additional 783,794 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Toro by 37,332.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock worth $44,034,000 after acquiring an additional 469,643 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Toro by 250.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 459,717 shares of the company’s stock worth $44,128,000 after purchasing an additional 328,550 shares during the period. Finally, Champlain Investment Partners LLC grew its holdings in Toro by 11.5% during the 1st quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company’s stock valued at $249,751,000 after purchasing an additional 280,855 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on TTC shares. Robert W. Baird decreased their price objective 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. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. DA Davidson cut their price objective on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Finally, Northland Securities reiterated a “market perform” rating and set a $100.00 target price on shares of Toro in a research report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.33.

Toro Stock Up 0.0 %

Shares of NYSE:TTC opened at $86.67 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 $89.25 and its 200 day moving average is $89.21. The stock has a market cap of $8.89 billion, a P/E ratio of 34.26 and a beta of 0.69. The Toro Company has a 52-week low of $77.15 and a 52-week high of $102.00.

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

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.66%. Toro’s payout ratio is presently 56.92%.

About Toro

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.