Benjamin Edwards Inc. Boosts Stock Position in The Toro Company (NYSE:TTC)

Benjamin Edwards Inc. raised its position in The Toro Company (NYSE:TTC) by 6,995.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,005 shares of the company’s stock after purchasing an additional 72,962 shares during the period. Benjamin Edwards Inc.’s holdings in Toro were worth $6,418,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TTC. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Toro by 28.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,096 shares of the company’s stock worth $284,000 after purchasing an additional 679 shares during the last quarter. Tidal Investments LLC grew its holdings in Toro by 19.1% in the 1st quarter. Tidal Investments LLC now owns 10,671 shares of the company’s stock valued at $978,000 after buying an additional 1,709 shares during the period. Atria Investments Inc acquired a new position in shares of Toro during the 1st quarter valued at about $1,139,000. DNB Asset Management AS lifted its holdings in shares of Toro by 14.1% during the 2nd quarter. DNB Asset Management AS now owns 25,962 shares of the company’s stock worth $2,428,000 after acquiring an additional 3,201 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of Toro by 2.9% in the second quarter. Park Avenue Securities LLC now owns 9,247 shares of the company’s stock worth $865,000 after acquiring an additional 259 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Stock Performance

Shares of TTC stock opened at $86.35 on Wednesday. The company’s fifty day simple moving average is $84.01 and its 200-day simple moving average is $87.82. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The Toro Company has a 52 week low of $77.15 and a 52 week high of $102.00. The company has a market cap of $8.86 billion, a PE ratio of 22.66 and a beta of 0.70.

Toro (NYSE:TTC) last announced 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). The business had revenue of $1.16 billion for 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%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. As a group, equities research analysts anticipate that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

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

Analyst Upgrades and Downgrades

TTC has been the subject of several research analyst reports. Northland Securities reaffirmed a “market perform” rating and set a $100.00 price target on shares of Toro in a research report on Friday, September 6th. 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. Robert W. Baird dropped their price target on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.