The Toro Company (NYSE:TTC) Holdings Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in The Toro Company (NYSE:TTC) by 0.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,007,083 shares of the company’s stock after selling 1,406 shares during the period. King Luther Capital Management Corp’s holdings in Toro were worth $87,344,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Toro by 25.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock valued at $609,626,000 after buying an additional 1,332,248 shares during the period. Allspring Global Investments Holdings LLC raised its position in Toro by 37,332.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock worth $44,034,000 after acquiring an additional 469,643 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Toro by 682.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock valued at $45,085,000 after acquiring an additional 420,539 shares during the last quarter. Millennium Management LLC boosted its position in shares of Toro by 11,970.3% during the 2nd quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock valued at $36,750,000 after purchasing an additional 389,752 shares in the last quarter. Finally, Nuance Investments LLC acquired a new position in shares of Toro in the 3rd quarter worth approximately $29,146,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TTC. Northland Securities reaffirmed a “market perform” rating and issued a $100.00 price target on shares of Toro in a report on Friday, September 6th. Robert W. Baird decreased their price target on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Finally, DA Davidson decreased their target price on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Three research 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 company currently has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Trading Up 1.3 %

Shares of NYSE:TTC opened at $81.88 on Thursday. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00. 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 firm has a market capitalization of $8.40 billion, a P/E ratio of 21.49 and a beta of 0.69. The firm has a fifty day moving average of $83.81 and a two-hundred day moving average of $88.04.

Toro (NYSE:TTC) last issued its 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 during the quarter, compared to analyst estimates of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. On average, equities analysts expect that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Announces Dividend

The firm also recently announced 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 1.76%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio is 37.80%.

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.