Envestnet Asset Management Inc. Buys 17,556 Shares of The Toro Company (NYSE:TTC)

Envestnet Asset Management Inc. grew its stake in shares of The Toro Company (NYSE:TTC) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,307 shares of the company’s stock after buying an additional 17,556 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of Toro worth $20,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UMB Bank n.a. grew its holdings in Toro by 1,204.8% during the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after purchasing an additional 253 shares during the period. Rise Advisors LLC boosted its position in shares of 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. Covestor Ltd grew its holdings in shares of Toro by 522.6% in the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after buying an additional 601 shares during the period. Headlands Technologies LLC bought a new stake in shares of Toro in the 1st quarter valued at $66,000. Finally, Riverview Trust Co acquired a new stake in Toro during the 1st quarter worth $72,000. 87.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TTC has been the subject of several recent analyst reports. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. 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. DA Davidson dropped their price target on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Finally, Robert W. Baird decreased 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. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $93.33.

Toro Trading Down 0.7 %

Toro stock opened at $84.90 on Monday. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 33.56 and a beta of 0.69. The firm has a 50-day moving average of $90.38 and a 200-day moving average of $89.31. 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 one year low of $77.15 and a one year high of $102.00.

Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.95 earnings per share. On average, equities analysts expect that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The company 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 dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, September 30th. Toro’s dividend payout ratio (DPR) is currently 56.92%.

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.