Skandinaviska Enskilda Banken AB publ Sells 500 Shares of The Toro Company (NYSE:TTC)

Skandinaviska Enskilda Banken AB publ decreased its holdings in The Toro Company (NYSE:TTC) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,020 shares of the company’s stock after selling 500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Toro were worth $1,966,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTC. UMB Bank n.a. raised its position in Toro by 1,204.8% in the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after purchasing an additional 253 shares in the last quarter. Rise Advisors LLC raised its holdings in shares of Toro by 2,057.1% in the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 288 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Toro during the 1st quarter worth approximately $66,000. Covestor Ltd boosted its stake in 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 in the last quarter. Finally, Riverview Trust Co bought a new stake in Toro in the first quarter valued at $72,000. 87.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TTC shares. Northland Securities reissued a “market perform” rating and set a $100.00 price objective on shares of Toro 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. Robert W. Baird decreased their price objective 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. Finally, DA Davidson cut their target price on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Toro currently has an average rating of “Hold” and a consensus price target of $93.33.

Toro Stock Performance

Toro stock opened at $85.80 on Tuesday. The stock has a 50-day simple moving average of $90.20 and a 200 day simple moving average of $89.29. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 33.91 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00.

Toro (NYSE:TTC) last announced its 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 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 company posted $0.95 earnings per share. Toro’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts anticipate that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, September 30th. Toro’s dividend payout ratio is 56.92%.

Toro 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.