The Toro Company (NYSE:TTC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in The Toro Company (NYSE:TTC) by 3.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,779 shares of the company’s stock after selling 2,425 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Toro worth $5,590,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Edgestream Partners L.P. purchased a new stake in Toro during the 2nd quarter worth $1,919,000. Renaissance Technologies LLC purchased a new stake in shares of Toro during the second quarter worth about $608,000. Dimensional Fund Advisors LP lifted its stake in shares of Toro by 13.9% in the second quarter. Dimensional Fund Advisors LP now owns 901,346 shares of the company’s stock worth $84,279,000 after acquiring an additional 110,330 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Toro by 57.6% in the second quarter. Brown Brothers Harriman & Co. now owns 226,719 shares of the company’s stock valued at $21,200,000 after purchasing an additional 82,866 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Toro by 8.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 215,307 shares of the company’s stock valued at $20,133,000 after purchasing an additional 17,556 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TTC has been the topic of a number of recent analyst reports. Northland Securities reaffirmed a “market perform” rating and issued a $100.00 target price on shares of Toro in a research report on Friday, September 6th. DA Davidson reduced their price objective on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, Robert W. Baird cut their target price on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $93.33.

Toro Stock Performance

Shares of TTC opened at $84.91 on Friday. The stock has a market capitalization of $8.71 billion, a PE ratio of 33.56 and a beta of 0.69. The business’s fifty day moving average price is $90.38 and its 200 day moving average price is $89.36. 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 Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). Toro had a return on equity of 25.94% and a net margin of 8.89%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that The Toro Company will post 4.16 EPS for the current 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 given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, September 30th. Toro’s payout ratio is 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.