The Toro Company (NYSE:TTC) Position Raised by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. lifted its position in shares of The Toro Company (NYSE:TTC) by 231.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,068 shares of the company’s stock after acquiring an additional 17,509 shares during the period. Lecap Asset Management Ltd.’s holdings in Toro were worth $2,174,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. UMB Bank n.a. boosted its stake in Toro by 112.1% during the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after purchasing an additional 333 shares during the period. Covestor Ltd grew its holdings in Toro by 522.6% in the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after buying an additional 601 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Toro in the 1st quarter valued at approximately $66,000. Whittier Trust Co. of Nevada Inc. increased its position in Toro by 850.0% in 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 during the period. Finally, Fifth Third Bancorp raised its stake in Toro by 22.4% during 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 in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a 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 note on Friday, September 6th. DA Davidson reduced their price target on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Robert W. Baird lowered their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.33.

Toro Trading Down 1.2 %

Shares of TTC stock opened at $81.62 on Wednesday. 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 stock has a 50-day simple moving average of $86.38 and a 200 day simple moving average of $88.62. 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 $8.38 billion, a P/E ratio of 21.42 and a beta of 0.68.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) 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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. On average, sell-side analysts expect that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio is presently 37.80%.

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.