The Toro Company (NYSE:TTC) Stake Reduced by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. decreased its holdings in shares of The Toro Company (NYSE:TTC) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,207 shares of the company’s stock after selling 722 shares during the period. Ameritas Investment Partners Inc.’s holdings in Toro were worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TTC. UMB Bank n.a. boosted its holdings in Toro by 1,204.8% during the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after buying an additional 253 shares in the last quarter. Rise Advisors LLC boosted its stake in shares of Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after acquiring an additional 288 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Toro in the 1st quarter worth $66,000. Covestor Ltd raised its position in shares of Toro by 522.6% during the first quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after purchasing an additional 601 shares during the period. Finally, Riverview Trust Co acquired a new stake in shares of Toro during the first quarter worth $72,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analyst Ratings Changes

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

Toro Stock Down 0.7 %

Shares of Toro stock opened at $84.90 on Friday. 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 Toro Company has a 1 year low of $77.15 and a 1 year high of $102.00. The stock has a 50-day moving average price of $90.38 and a 200 day moving average price of $89.34. The company has a market cap of $8.82 billion, a P/E ratio of 33.56 and a beta of 0.69.

Toro (NYSE:TTC) last posted its quarterly 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). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. As a group, analysts expect that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Announces Dividend

The business also recently declared 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, September 30th. Toro’s dividend payout ratio (DPR) is presently 56.92%.

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.