2,747 Shares in The Toro Company (NYSE:TTC) Acquired by Sound Income Strategies LLC

by · The Cerbat Gem

Sound Income Strategies LLC acquired a new stake in shares of The Toro Company (NYSE:TTC – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,747 shares of the company’s stock, valued at approximately $238,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Toro by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock valued at $968,083,000 after purchasing an additional 73,719 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Toro by 25.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock worth $609,626,000 after acquiring an additional 1,332,248 shares in the last quarter. Select Equity Group L.P. boosted its stake in shares of Toro by 1.6% during the 2nd quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock worth $516,120,000 after acquiring an additional 88,536 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Toro by 1.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock worth $445,673,000 after purchasing an additional 65,800 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in Toro by 11.5% during the first quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company’s stock valued at $249,751,000 after acquiring an additional 280,855 shares during the period. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Trading Up 1.6 %

TTC stock opened at $83.57 on Monday. The business has a fifty day moving average of $87.16 and a 200-day moving average of $88.88. 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 company has a market cap of $8.58 billion, a P/E ratio of 21.93 and a beta of 0.68. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00.

Toro (NYSE:TTC – Get Free Report) last issued its earnings results 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 net margin of 8.89% and a return on equity of 25.94%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted $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 expect that The Toro Company will post 4.16 EPS for the current year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.36 per share. The ex-dividend date was Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.72%. Toro’s dividend payout ratio is 37.80%.

Analysts Set New Price Targets

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

View Our Latest Report on TTC

Toro Company Profile

(Free Report)

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.

See Also

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