Victory Capital Management Inc. Sells 3,341,770 Shares of The Toro Company (NYSE:TTC)

Victory Capital Management Inc. cut its stake in The Toro Company (NYSE:TTC) by 98.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,327 shares of the company’s stock after selling 3,341,770 shares during the quarter. Victory Capital Management Inc. owned 0.05% of Toro worth $4,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Toro by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 200,456 shares of the company’s stock worth $17,386,000 after acquiring an additional 9,998 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Toro in the 3rd quarter valued at approximately $1,185,000. Entropy Technologies LP boosted its holdings in shares of Toro by 11.2% in the 3rd quarter. Entropy Technologies LP now owns 14,200 shares of the company’s stock valued at $1,232,000 after buying an additional 1,427 shares during the last quarter. Versor Investments LP boosted its holdings in shares of Toro by 245.7% in the 3rd quarter. Versor Investments LP now owns 23,540 shares of the company’s stock valued at $2,042,000 after buying an additional 16,731 shares during the last quarter. Finally, Jensen Investment Management Inc. boosted its holdings in shares of Toro by 17.6% in the 3rd quarter. Jensen Investment Management Inc. now owns 45,550 shares of the company’s stock valued at $3,951,000 after buying an additional 6,810 shares during the last quarter. 87.95% of the stock is owned by institutional investors.

Toro Trading Up 1.6 %

NYSE TTC opened at $85.11 on Friday. The Toro Company has a 52 week low of $77.15 and a 52 week high of $102.00. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 22.34 and a beta of 0.69. The business has a 50 day moving average price of $83.82 and a 200-day moving average price of $87.97. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (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 the consensus estimate of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 EPS. As a group, equities analysts expect that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio is 37.80%.

Analyst Ratings Changes

Several equities research analysts have recently commented on TTC shares. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. DA Davidson decreased their target price on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Robert W. Baird decreased 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. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $100.00 target price on shares of Toro in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Toro presently has an average 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.