Brown Brothers Harriman & Co. boosted its stake in shares of The Toro Company (NYSE:TTC) by 77.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,534 shares of the company’s stock after purchasing an additional 3,734 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in The Toro were worth $938,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Ameritas Investment Company LLC bought a new stake in shares of The Toro in the first quarter valued at approximately $34,000. Harbour Investments Inc. bought a new stake in shares of The Toro in the first quarter valued at approximately $46,000. Eagle Bay Advisors LLC bought a new stake in shares of The Toro in the second quarter valued at approximately $47,000. Tortoise Investment Management LLC boosted its position in shares of The Toro by 106.3% in the second quarter. Tortoise Investment Management LLC now owns 524 shares of the company’s stock valued at $58,000 after acquiring an additional 270 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of The Toro by 48.2% in the second quarter. Fifth Third Bancorp now owns 535 shares of the company’s stock valued at $59,000 after acquiring an additional 174 shares during the period. 80.98% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently commented on TTC shares. Zacks Investment Research lowered The Toro from a “buy” rating to a “hold” rating in a research note on Thursday, August 5th. Colliers Securities restated a “neutral” rating on shares of The Toro in a research note on Thursday, July 1st. Finally, Robert W. Baird lowered The Toro from an “outperform” rating to a “neutral” rating and set a $116.00 target price for the company. in a research note on Thursday, August 19th.
The Toro stock opened at $94.58 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.61 and a quick ratio of 0.92. The stock has a fifty day moving average price of $105.72 and a two-hundred day moving average price of $108.62. The Toro Company has a 52-week low of $80.77 and a 52-week high of $118.13. The firm has a market capitalization of $10.07 billion, a P/E ratio of 24.38, a P/E/G ratio of 2.79 and a beta of 0.77.
The Toro (NYSE:TTC) last released its quarterly earnings data on Wednesday, September 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.16. The Toro had a return on equity of 33.79% and a net margin of 10.99%. The firm had revenue of $976.20 million during the quarter, compared to analyst estimates of $954.66 million. During the same period in the prior year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts predict that The Toro Company will post 3.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 21st. Shareholders of record on Wednesday, October 6th will be paid a dividend of $0.2625 per share. The ex-dividend date of this dividend is Tuesday, October 5th. This represents a $1.05 annualized dividend and a yield of 1.11%. The Toro’s dividend payout ratio is currently 34.77%.
The Toro Company Profile
The Toro Co designs, manufactures, and markets a range of turf equipment. It operates through the following segments: Professional and Residential. The Professional segment consists of turf & landscape equipment; rental, specialty, and underground construction equipment; snow & ice management equipment; and irrigation products.
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