Tredje AP fonden Trims Holdings in The Toro Company (NYSE:TTC)

Tredje AP fonden lessened its stake in The Toro Company (NYSE:TTC) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,487 shares of the company’s stock after selling 177 shares during the period. Tredje AP fonden’s holdings in Toro were worth $1,074,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TTC. Vanguard Group Inc. increased its position in shares of Toro by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock worth $968,083,000 after purchasing an additional 73,719 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 during the last quarter. Mairs & Power Inc. raised its stake in Toro by 0.6% during the fourth quarter. Mairs & Power Inc. now owns 3,225,547 shares of the company’s stock valued at $309,620,000 after buying an additional 18,899 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in Toro by 11.5% during the 1st quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company’s stock worth $249,751,000 after buying an additional 280,855 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Toro by 73.8% in the 4th quarter. Wellington Management Group LLP now owns 1,845,724 shares of the company’s stock worth $177,171,000 after acquiring an additional 783,794 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Price Performance

Shares of NYSE TTC opened at $84.91 on Friday. The firm’s 50-day simple moving average is $90.38 and its 200 day simple moving average is $89.36. The stock has a market cap of $8.71 billion, a P/E ratio of 33.56 and a beta of 0.69. 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 Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00.

Toro (NYSE:TTC) last released its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). Toro had a return on equity of 25.94% and a net margin of 8.89%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.70%. Toro’s dividend payout ratio is currently 56.92%.

Analyst Ratings Changes

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