APG Asset Management N.V. Takes $768,000 Position in The Toro Company (NYSE:TTC)

APG Asset Management N.V. purchased a new stake in shares of The Toro Company (NYSE:TTC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,800 shares of the company’s stock, valued at approximately $768,000.

A number of other hedge funds also recently added to or reduced their stakes in TTC. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 103,300 shares during the last quarter. Cim LLC bought a new stake in Toro in the 4th quarter worth approximately $12,882,000. Boston Trust Walden Corp raised its stake in Toro by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after buying an additional 9,371 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Toro by 27.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 54,458 shares of the company’s stock valued at $4,990,000 after buying an additional 11,661 shares during the period. Finally, Mairs & Power Inc. boosted its stake in shares of Toro by 0.6% in the 4th quarter. Mairs & Power Inc. now owns 3,225,547 shares of the company’s stock worth $309,620,000 after buying an additional 18,899 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. DA Davidson reduced their price target on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Robert W. Baird dropped their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $100.00 target price on shares of Toro in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $93.33.

Toro Stock Down 0.8 %

NYSE TTC opened at $86.05 on Wednesday. The stock’s 50-day moving average price is $89.05 and its 200-day moving average price is $89.20. The company has a market capitalization of $8.83 billion, a P/E ratio of 34.01 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 52 week low of $77.15 and a 52 week high of $102.00.

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

Toro Announces Dividend

The company also recently announced 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 1.67%. The ex-dividend date of this dividend is Monday, September 30th. Toro’s dividend payout ratio is currently 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.