Truist Financial Corp Sells 7,259 Shares of The Toro Company (NYSE:TTC)

Truist Financial Corp cut its position in The Toro Company (NYSE:TTC) by 14.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,099 shares of the company’s stock after selling 7,259 shares during the period. Truist Financial Corp’s holdings in Toro were worth $4,124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TTC. UMB Bank n.a. increased its position in shares of 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 acquiring an additional 253 shares in the last quarter. Rise Advisors LLC boosted its stake in Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 288 shares during the last quarter. Headlands Technologies LLC bought a new stake in Toro during the 1st quarter worth approximately $66,000. Covestor Ltd raised its stake in shares of Toro by 522.6% in 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 last quarter. Finally, Riverview Trust Co bought a new position in shares of Toro in the first quarter valued at approximately $72,000. 87.95% of the stock is owned by institutional investors.

Toro Trading Up 1.1 %

NYSE TTC opened at $84.47 on Wednesday. The business’s fifty day moving average is $87.75 and its 200-day moving average is $89.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 33.39 and a beta of 0.68. The Toro Company has a one year low of $77.15 and a one 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 analysts’ consensus estimates of $1.23 by ($0.05). Toro had a net margin of 8.89% and a return on equity of 25.94%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

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

Analyst Upgrades and Downgrades

TTC has been the subject of a number of analyst reports. 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 price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Northland Securities reaffirmed a “market perform” rating and issued a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. Finally, 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 research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Toro currently has a consensus rating of “Hold” and a consensus price target of $93.33.

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.