PNC Financial Services Group Inc. Raises Holdings in The Toro Company (NYSE:TTC)

PNC Financial Services Group Inc. raised its holdings in shares of The Toro Company (NYSE:TTC) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,492 shares of the company’s stock after purchasing an additional 478 shares during the period. PNC Financial Services Group Inc.’s holdings in Toro were worth $1,691,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Speece Thorson Capital Group Inc. boosted its stake in Toro by 24.5% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 144,438 shares of the company’s stock valued at $12,527,000 after purchasing an additional 28,453 shares during the last quarter. Boston Trust Walden Corp boosted its stake in Toro by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after purchasing an additional 9,371 shares during the last quarter. Atria Investments Inc purchased a new stake in Toro during the 1st quarter valued at $1,139,000. Raymond James & Associates boosted its stake in Toro by 5.7% during the 3rd quarter. Raymond James & Associates now owns 278,700 shares of the company’s stock valued at $24,172,000 after purchasing an additional 14,950 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Toro by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 200,456 shares of the company’s stock valued at $17,386,000 after purchasing an additional 9,998 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Price Performance

Shares of Toro stock opened at $86.18 on Wednesday. The Toro Company has a one year low of $77.15 and a one year high of $102.00. The stock’s fifty day moving average is $83.90 and its 200 day moving average is $87.93. The stock has a market cap of $8.84 billion, a P/E ratio of 22.62 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 announced its earnings results 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $0.95 earnings per share. Toro’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that The Toro Company will post 4.16 earnings per share for the current year.

Toro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a yield of 1.67%. Toro’s dividend payout ratio is currently 37.80%.

Analyst Ratings Changes

Several analysts have commented on the company. Northland Securities reiterated a “market perform” rating and set a $100.00 target price on shares of Toro in a research note on Friday, September 6th. DA Davidson lowered their price target on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Robert W. Baird lowered their price target on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, StockNews.com raised Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $93.33.

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.