The Toro Company (NYSE:TTC) Position Raised by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its position in shares of The Toro Company (NYSE:TTC) by 46.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,490 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Investment Management Corp of Ontario’s holdings in Toro were worth $303,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TTC. UMB Bank n.a. raised its holdings in shares of Toro by 112.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after purchasing an additional 333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Toro by 850.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock worth $74,000 after buying an additional 765 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Toro by 22.4% in the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after buying an additional 166 shares in the last quarter. CWM LLC lifted its position in shares of Toro by 15.5% during the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after acquiring an additional 143 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Toro during the 2nd quarter worth $94,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. DA Davidson reduced their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Robert W. Baird cut their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $100.00 price objective on shares of Toro in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $93.33.

Toro Price Performance

NYSE TTC opened at $86.19 on Monday. The company has a 50 day simple moving average of $84.00 and a 200-day simple moving average of $87.80. The Toro Company has a 52-week low of $77.15 and a 52-week high of $102.00. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 22.62 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85.

Toro (NYSE:TTC) last posted 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). The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Equities research analysts predict 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 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 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio (DPR) 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.