Kayne Anderson Rudnick Investment Management LLC Acquires 65,800 Shares of The Toro Company (NYSE:TTC)

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of The Toro Company (NYSE:TTC) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,766,046 shares of the company’s stock after buying an additional 65,800 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 4.59% of Toro worth $445,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TTC. UMB Bank n.a. raised its position in shares of Toro by 1,204.8% during the 1st quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after acquiring an additional 253 shares during the last quarter. Rise Advisors LLC increased its holdings in Toro by 2,057.1% in the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 288 shares during the last quarter. Principal Securities Inc. acquired a new position in Toro in the fourth quarter valued at about $66,000. Headlands Technologies LLC bought a new position in Toro during the first quarter worth about $66,000. Finally, Covestor Ltd grew its position in shares of Toro by 522.6% during the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after buying an additional 601 shares during the period. 87.95% of the stock is owned by institutional investors.

Toro Stock Down 0.7 %

Toro stock opened at $84.91 on Friday. The company has a 50 day moving average of $90.38 and a 200-day moving average of $89.36. 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 twelve month low of $77.15 and a twelve month high of $102.00. The stock has a market capitalization of $8.71 billion, a PE ratio of 33.56 and a beta of 0.69.

Toro (NYSE:TTC) last announced its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company 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%. Toro’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 posted $0.95 earnings per share. On average, equities research analysts anticipate that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Monday, September 30th. Toro’s dividend payout ratio (DPR) is currently 56.92%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TTC. Northland Securities reissued a “market perform” rating and set a $100.00 price objective on shares of Toro in a research note on Friday, September 6th. Robert W. Baird reduced their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Finally, DA Davidson reduced their target price on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Three equities 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, the company currently has an average rating of “Hold” and a consensus 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.