Raymond James & Associates Purchases 14,950 Shares of The Toro Company (NYSE:TTC)

Raymond James & Associates lifted its position in The Toro Company (NYSE:TTC) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,700 shares of the company’s stock after purchasing an additional 14,950 shares during the quarter. Raymond James & Associates’ holdings in Toro were worth $24,172,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Toro by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock valued at $968,083,000 after buying an additional 73,719 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 worth $609,626,000 after purchasing an additional 1,332,248 shares in the last quarter. Select Equity Group L.P. lifted its stake in Toro by 1.6% during the second quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock worth $516,120,000 after purchasing an additional 88,536 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Toro by 1.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock worth $445,673,000 after purchasing an additional 65,800 shares during the period. Finally, Champlain Investment Partners LLC boosted its holdings in Toro by 11.5% during the first quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company’s stock valued at $249,751,000 after purchasing an additional 280,855 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TTC shares. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. 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. DA Davidson reduced their target price on shares of 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 dropped their target price on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Trading Up 0.3 %

Shares of TTC opened at $82.09 on Friday. The stock has a fifty day moving average price of $86.11 and a two-hundred day moving average price of $88.53. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 32.45 and a beta of 0.68. 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 (EPS) for the quarter, missing the consensus estimate 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 last year, the company earned $0.95 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts predict that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio (DPR) is presently 56.92%.

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.