King Luther Capital Management Corp Has $94.30 Million Holdings in The Toro Company (NYSE:TTC)

King Luther Capital Management Corp decreased its position in shares of The Toro Company (NYSE:TTC) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,008,489 shares of the company’s stock after selling 12,937 shares during the quarter. King Luther Capital Management Corp owned approximately 0.97% of Toro worth $94,304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TTC. International Assets Investment Management LLC increased its stake in shares of Toro by 9,500.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,744 shares of the company’s stock valued at $359,000 after buying an additional 3,705 shares during the period. Principal Securities Inc. acquired a new position in Toro in the 4th quarter valued at approximately $66,000. Janney Montgomery Scott LLC raised its stake in shares of Toro by 3.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,099 shares of the company’s stock valued at $777,000 after acquiring an additional 257 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Toro by 60.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,418 shares of the company’s stock worth $136,000 after purchasing an additional 534 shares during the period. Finally, Norges Bank bought a new stake in shares of Toro in the fourth quarter worth $103,785,000. Institutional investors own 87.95% of the company’s stock.

Toro Stock Performance

Shares of Toro stock opened at $85.50 on Friday. The company has a market cap of $8.77 billion, a P/E ratio of 33.79 and a beta of 0.69. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $90.52 and a two-hundred day moving average price of $89.43. The Toro Company has a 1-year low of $77.15 and a 1-year high of $102.00.

Toro (NYSE:TTC) last released 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 business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned $0.95 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts anticipate that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.68%. Toro’s payout ratio is presently 56.92%.

Wall Street Analyst Weigh In

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

About Toro

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.