Toronto Dominion Bank Buys 136 Shares of The Toro Company (NYSE:TTC)

Toronto Dominion Bank grew its stake in shares of The Toro Company (NYSE:TTC) by 1.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,060 shares of the company’s stock after acquiring an additional 136 shares during the period. Toronto Dominion Bank’s holdings in Toro were worth $941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. lifted its stake 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 buying an additional 253 shares in the last quarter. Rise Advisors LLC lifted its stake in shares of Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 288 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Toro during the 1st quarter valued at approximately $66,000. Covestor Ltd lifted its stake in shares of Toro by 522.6% during the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after buying an additional 601 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Toro during the 1st quarter valued at approximately $72,000. 87.95% of the stock is owned by institutional investors.

Toro Stock Performance

Toro stock opened at $86.68 on Tuesday. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. The firm’s fifty day moving average price is $89.25 and its 200-day moving average price is $89.22. The stock has a market cap of $8.89 billion, a P/E ratio of 34.26 and a beta of 0.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm 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%. Toro’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, equities research analysts expect that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The firm 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 1.66%. The ex-dividend date is Monday, September 30th. Toro’s payout ratio is currently 56.92%.

Analyst Ratings Changes

A number of brokerages recently commented on TTC. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Northland Securities reiterated a “market perform” rating and issued a $100.00 target price on shares of Toro in a research note on Friday, September 6th. Robert W. Baird lowered 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, DA Davidson lowered 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. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Toro currently has a consensus rating of “Hold” and a consensus target price of $93.33.

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.