Federated Hermes Inc. Has $891,000 Holdings in The Toro Company (NYSE:TTC)

Federated Hermes Inc. trimmed its position in shares of The Toro Company (NYSE:TTC) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,530 shares of the company’s stock after selling 370 shares during the period. Federated Hermes Inc.’s holdings in Toro were worth $891,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Toro by 25.0% during 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. Wellington Management Group LLP grew its stake in Toro by 73.8% during the 4th quarter. Wellington Management Group LLP now owns 1,845,724 shares of the company’s stock valued at $177,171,000 after acquiring an additional 783,794 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Toro by 334.2% in the fourth quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock worth $78,545,000 after purchasing an additional 629,820 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Toro by 37,332.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock worth $44,034,000 after purchasing an additional 469,643 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in Toro by 250.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 459,717 shares of the company’s stock valued at $44,128,000 after purchasing an additional 328,550 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Trading Down 0.7 %

Shares of TTC stock opened at $84.90 on Monday. The business’s 50 day moving average is $90.38 and its two-hundred day moving average is $89.31. 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 12 month low of $77.15 and a 12 month high of $102.00. The company has a market cap of $8.82 billion, a PE ratio of 33.56 and a beta of 0.69.

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). The firm 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 firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. Equities analysts predict that The Toro Company will post 4.16 EPS for the current year.

Toro Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Northland Securities reiterated a “market perform” rating and issued a $100.00 target price on shares of Toro in a research report on Friday, September 6th. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Robert W. Baird dropped 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 reduced their price target on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Toro presently has a consensus rating of “Hold” and an average target price of $93.33.

Toro 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.