The Toro Company (NYSE:TTC) Stock Position Lessened by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in shares of The Toro Company (NYSE:TTC) by 64.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,714 shares of the company’s stock after selling 69,365 shares during the quarter. Hsbc Holdings PLC’s holdings in Toro were worth $3,614,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. UMB Bank n.a. raised its position in shares of Toro by 1,204.8% during the 1st 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 raised its holdings in Toro by 2,057.1% during the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 288 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Toro in the first quarter worth approximately $66,000. Covestor Ltd boosted its stake in Toro by 522.6% during the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after purchasing an additional 601 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Toro during the 1st quarter valued at $72,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analyst Ratings Changes

TTC has been the subject of several research analyst reports. Robert W. Baird cut their price objective on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. DA Davidson dropped their target price on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, Northland Securities restated a “market perform” rating and set a $100.00 target price on shares of Toro in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $93.33.

Toro Trading Up 0.9 %

Shares of TTC opened at $86.60 on Wednesday. The business’s 50-day moving average price is $89.96 and its 200 day moving average price is $89.27. 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 stock has a market capitalization of $9.00 billion, a P/E ratio of 34.23 and a beta of 0.69. 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 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $1.16 billion during 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 revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $0.95 earnings per share. Analysts expect that The Toro Company will post 4.16 earnings per share for the current year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.66%. Toro’s payout ratio is currently 56.92%.

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.