AE Wealth Management LLC raised its stake in shares of The Toro Company (NYSE:TTC – Free Report) by 56.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,694 shares of the company’s stock after buying an additional 2,065 shares during the period. AE Wealth Management LLC’s holdings in Toro were worth $579,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Savant Capital LLC raised its stake in shares of Toro by 9.2% during the 1st quarter. Savant Capital LLC now owns 2,848 shares of the company’s stock valued at $317,000 after buying an additional 240 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Toro by 6.6% during the 1st quarter. Cerity Partners LLC now owns 4,122 shares of the company’s stock valued at $458,000 after buying an additional 256 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Toro by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 414,957 shares of the company’s stock valued at $46,127,000 after buying an additional 2,917 shares during the last quarter. Vinva Investment Management Ltd purchased a new position in shares of Toro during the 1st quarter valued at about $255,000. Finally, Epoch Investment Partners Inc. increased its stake in shares of Toro by 16.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 131,875 shares of the company’s stock valued at $14,659,000 after purchasing an additional 19,004 shares in the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. DA Davidson assumed coverage on Toro in a research note on Wednesday, June 21st. They issued a “buy” rating and a $117.00 price target for the company. TheStreet lowered Toro from a “b” rating to a “c+” rating in a research note on Thursday, September 7th. Robert W. Baird cut their price target on Toro from $110.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, September 8th. Raymond James cut their price target on Toro from $125.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, September 8th. Finally, StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.80.
Insider Transactions at Toro
In other news, VP Kevin N. Carpenter sold 1,610 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $81.93, for a total transaction of $131,907.30. Following the transaction, the vice president now directly owns 169 shares in the company, valued at approximately $13,846.17. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.22% of the company’s stock.
Toro Price Performance
NYSE:TTC opened at $83.19 on Friday. The Toro Company has a 12 month low of $78.35 and a 12 month high of $117.66. The stock has a 50 day moving average of $95.07 and a two-hundred day moving average of $100.57. The company has a current ratio of 1.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.72. The firm has a market cap of $8.64 billion, a P/E ratio of 23.24 and a beta of 0.72.
Toro (NYSE:TTC – Get Free Report) last posted its quarterly earnings data on Thursday, September 7th. The company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.28). Toro had a return on equity of 33.37% and a net margin of 7.95%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the firm posted $1.19 earnings per share. Toro’s quarterly revenue was down 6.8% on a year-over-year basis. On average, analysts expect that The Toro Company will post 4.08 earnings per share for the current fiscal year.
Toro Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Tuesday, October 3rd. Toro’s dividend payout ratio is currently 37.99%.
About Toro
The Toro Company provides innovative solutions for the outdoor environment worldwide. It operates through two segments Professional and Residential. The company's 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, including snowplows; as well as stand-on snow and ice removal equipment, such as the related 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.
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