Confluence Investment Management LLC Increases Holdings in The Toro Company (NYSE:TTC)

Confluence Investment Management LLC increased its holdings in shares of The Toro Company (NYSE:TTC) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 230,379 shares of the company’s stock after acquiring an additional 709 shares during the period. Confluence Investment Management LLC’s holdings in Toro were worth $19,981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. boosted 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 purchasing an additional 333 shares during the period. Headlands Technologies LLC bought a new position in shares of Toro during the first quarter worth $66,000. Covestor Ltd grew its stake in Toro by 522.6% during the first quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after acquiring an additional 601 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Toro by 850.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock worth $74,000 after purchasing an additional 765 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Toro by 22.4% during the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TTC shares. Robert W. Baird decreased their target price on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. DA Davidson reduced their price objective on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $100.00 price target on shares of Toro in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.33.

Toro Price Performance

Shares of Toro stock opened at $86.42 on Friday. The stock has a 50 day moving average price of $84.48 and a 200-day moving average price of $88.27. The Toro Company has a one year low of $77.15 and a one year high of $102.00. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 22.68 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 announced 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 analysts’ expectations of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. Equities analysts expect that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

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

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.