Intech Investment Management LLC Boosts Stake in The Toro Company (NYSE:TTC)

Intech Investment Management LLC lifted its holdings in The Toro Company (NYSE:TTC) by 64.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,735 shares of the company’s stock after purchasing an additional 11,687 shares during the period. Intech Investment Management LLC’s holdings in Toro were worth $2,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Toro by 25.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock valued at $609,626,000 after buying an additional 1,332,248 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Toro by 37,332.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock worth $44,034,000 after acquiring an additional 469,643 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Toro by 682.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after acquiring an additional 420,539 shares in the last quarter. Millennium Management LLC raised its position in Toro by 11,970.3% during the second quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock worth $36,750,000 after acquiring an additional 389,752 shares during the period. Finally, Nuance Investments LLC purchased a new position in Toro during the third quarter valued at $29,146,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Stock Up 1.6 %

TTC stock opened at $85.11 on Friday. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 22.34 and a beta of 0.69. The firm has a 50-day moving average of $83.85 and a two-hundred day moving average of $87.94. The Toro Company has a 12 month low of $77.15 and a 12 month high of $102.00. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 25.94% and a net margin of 8.89%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, analysts forecast that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio is currently 37.80%.

Wall Street Analysts Forecast Growth

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

Toro Company 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.