Mission Wealth Management LP cut its stake in Toro Co (NYSE:TTC) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,688 shares of the company’s stock after selling 255 shares during the period. Mission Wealth Management LP’s holdings in Toro were worth $453,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Toro by 0.8% in the second quarter. Vanguard Group Inc. now owns 10,575,566 shares of the company’s stock valued at $707,505,000 after purchasing an additional 86,036 shares during the last quarter. BlackRock Inc. boosted its holdings in Toro by 1.5% during the second quarter. BlackRock Inc. now owns 9,905,623 shares of the company’s stock worth $662,687,000 after buying an additional 146,677 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Toro by 0.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 9,369,283 shares of the company’s stock worth $626,805,000 after buying an additional 32,412 shares during the last quarter. Select Equity Group L.P. grew its position in shares of Toro by 11.8% during the 3rd quarter. Select Equity Group L.P. now owns 4,965,747 shares of the company’s stock worth $363,989,000 after buying an additional 524,021 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Toro by 4.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,149,098 shares of the company’s stock worth $143,775,000 after buying an additional 89,600 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.
A number of brokerages recently weighed in on TTC. Zacks Investment Research upgraded shares of Toro from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Friday, January 10th. Robert W. Baird boosted their price target on shares of Toro from $72.00 to $78.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $80.00.
Shares of NYSE:TTC opened at $82.79 on Wednesday. The company has a market capitalization of $8.88 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.47 and a beta of 0.77. Toro Co has a 1 year low of $58.12 and a 1 year high of $84.26. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.48 and a quick ratio of 0.62. The business’s 50 day simple moving average is $80.43 and its 200 day simple moving average is $75.03.
Toro (NYSE:TTC) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Toro had a return on equity of 40.31% and a net margin of 8.73%. The firm had revenue of $734.38 million during the quarter, compared to analysts’ expectations of $745.03 million. During the same period in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 36.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Toro Co will post 3.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. This is a positive change from Toro’s previous quarterly dividend of $0.23. Toro’s payout ratio is currently 33.33%.
Toro Company Profile
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, 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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