Radnor Capital Management LLC Makes New Investment in The Toro Company (NYSE:TTC)

Radnor Capital Management LLC bought a new position in shares of The Toro Company (NYSE:TTC) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 15,900 shares of the company’s stock, valued at approximately $1,379,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. lifted its holdings in Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after acquiring an additional 333 shares during the period. Covestor Ltd boosted its holdings in shares of 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 during the last quarter. Headlands Technologies LLC purchased a new stake in Toro during the first quarter worth about $66,000. Whittier Trust Co. of Nevada Inc. raised 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 acquiring an additional 765 shares during the period. Finally, Fifth Third Bancorp boosted its stake in 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 acquiring an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TTC has been the subject of several research analyst reports. DA Davidson decreased 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. Robert W. Baird dropped their price target on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Northland Securities reissued a “market perform” rating and issued a $100.00 price objective on shares of Toro in a report on Friday, September 6th. Finally, StockNews.com raised shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.33.

Toro Price Performance

Toro stock opened at $84.85 on Thursday. The firm has a market capitalization of $8.71 billion, a P/E ratio of 22.27 and a beta of 0.69. The Toro Company has a one year low of $77.15 and a one year high of $102.00. 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 business has a fifty day moving average price of $84.59 and a 200-day moving average price of $88.29.

Toro (NYSE:TTC) last issued its 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 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 quarter in the prior year, the business earned $0.95 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, September 30th. Toro’s dividend payout ratio (DPR) is presently 37.80%.

Toro 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.