PNC Financial Services Group Inc. Raises Stock Position in The Toro Company (NYSE:TTC)

PNC Financial Services Group Inc. boosted its holdings in The Toro Company (NYSE:TTC) by 2.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 19,492 shares of the company’s stock after buying an additional 478 shares during the period. PNC Financial Services Group Inc.’s holdings in Toro were worth $1,691,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TTC. UMB Bank n.a. increased its stake in Toro by 112.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after buying an additional 333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Toro by 850.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after purchasing an additional 765 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Toro by 22.4% during the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares in the last quarter. CWM LLC grew its position in shares of Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after purchasing an additional 143 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Toro during the second quarter valued at about $94,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Trading Down 1.2 %

TTC opened at $86.18 on Wednesday. The firm has a market cap of $8.84 billion, a P/E ratio of 22.62 and a beta of 0.69. The Toro Company has a 12 month low of $77.15 and a 12 month high of $102.00. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $83.90 and a 200 day moving average of $87.93.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. As a group, research analysts forecast that The Toro Company will post 4.16 EPS for the current year.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s payout ratio is currently 37.80%.

Wall Street Analysts Forecast Growth

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