The Toro Company (NYSE:TTC) Stake Lessened by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC trimmed its stake in shares of The Toro Company (NYSE:TTC) by 47.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,573 shares of the company’s stock after selling 26,578 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Toro were worth $2,765,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Evoke Wealth LLC acquired a new position in shares of Toro during the fourth quarter valued at $2,479,000. Vanguard Group Inc. boosted its stake in Toro by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,491,409 shares of the company’s stock valued at $1,007,070,000 after purchasing an additional 103,300 shares during the period. Cim LLC bought a new position in Toro in the 4th quarter worth about $12,882,000. Boston Trust Walden Corp increased its stake in shares of Toro by 3.0% in the second quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after purchasing an additional 9,371 shares during the period. Finally, Bank of Nova Scotia boosted its position in shares of Toro by 5,261.3% during the fourth quarter. Bank of Nova Scotia now owns 132,209 shares of the company’s stock worth $12,690,000 after buying an additional 129,743 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Price Performance

NYSE TTC opened at $86.67 on Friday. The Toro Company has a 1 year low of $77.15 and a 1 year high of $102.00. The business’s fifty day moving average is $89.25 and its two-hundred day moving average is $89.21. The stock has a market capitalization of $8.89 billion, a P/E ratio of 34.26 and a beta of 0.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, September 5th. The company reported $1.18 earnings per share (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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. Toro’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. 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 report on Monday, September 9th. Northland Securities reiterated a “market perform” rating and set a $100.00 price target 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 note on Monday, September 9th. Finally, Robert W. Baird lowered 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. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.