King Luther Capital Management Corp Decreases Stake in The Toro Company (NYSE:TTC)

King Luther Capital Management Corp decreased its stake in The Toro Company (NYSE:TTC) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,007,083 shares of the company’s stock after selling 1,406 shares during the period. King Luther Capital Management Corp owned approximately 0.98% of Toro worth $87,344,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TTC. Arizona State Retirement System grew its holdings in shares of Toro by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 28,680 shares of the company’s stock worth $2,682,000 after acquiring an additional 110 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Toro by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company’s stock valued at $4,405,000 after buying an additional 123 shares in the last quarter. Lindenwold Advisors INC raised its stake in shares of Toro by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock worth $400,000 after buying an additional 125 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Toro by 1.4% in the 2nd quarter. Toronto Dominion Bank now owns 10,060 shares of the company’s stock worth $941,000 after buying an additional 136 shares in the last quarter. Finally, CWM LLC grew its stake in Toro by 15.5% in the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Trading Up 1.3 %

TTC opened at $81.88 on Thursday. The firm’s 50 day moving average is $83.81 and its 200-day moving average is $88.04. The Toro Company has a 52-week low of $77.15 and a 52-week high of $102.00. 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 firm has a market capitalization of $8.40 billion, a P/E ratio of 21.49 and a beta of 0.69.

Toro (NYSE:TTC) last issued its earnings results 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). Toro had a net margin of 8.89% and a return on equity of 25.94%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts expect that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s payout ratio is 37.80%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TTC. DA Davidson lowered their price target on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Robert W. Baird reduced their price objective on 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 Toro from a “hold” rating to a “buy” rating in a research 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.