Slow Capital Inc. Sells 172 Shares of The Toro Company (NYSE:TTC)

Slow Capital Inc. lessened its stake in The Toro Company (NYSE:TTC) by 3.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,650 shares of the company’s stock after selling 172 shares during the period. Slow Capital Inc.’s holdings in Toro were worth $405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TTC. Arizona State Retirement System lifted its stake in shares of Toro by 0.4% in the second 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 lifted its position in shares of Toro by 0.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company’s stock worth $4,405,000 after purchasing an additional 123 shares during the period. Toronto Dominion Bank boosted its stake in shares of Toro by 1.4% in the 2nd quarter. Toronto Dominion Bank now owns 10,060 shares of the company’s stock valued at $941,000 after purchasing an additional 136 shares during the last quarter. CWM LLC boosted its stake in shares of 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 purchasing an additional 143 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Toro by 7.2% during the third quarter. Vontobel Holding Ltd. now owns 2,361 shares of the company’s stock worth $205,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TTC shares. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Northland Securities reissued a “market perform” rating and issued a $100.00 price objective on shares of Toro in a research note on Friday, September 6th. DA Davidson decreased their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Robert W. Baird dropped their price target on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Stock Performance

Toro stock traded down $0.17 during mid-day trading on Friday, reaching $83.89. 639,002 shares of the company’s stock were exchanged, compared to its average volume of 893,224. The business’s fifty day simple moving average is $86.61 and its 200 day simple moving average is $88.66. 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 $8.61 billion, a PE ratio of 22.02 and a beta of 0.68. The Toro Company has a one year low of $77.15 and a one year high of $102.00.

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 the consensus estimate of $1.23 by ($0.05). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. On average, sell-side analysts expect that The Toro Company will post 4.16 earnings per share for the current year.

Toro Announces Dividend

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 $0.36 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.72%. Toro’s payout ratio is 37.80%.

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.