Thematics Asset Management Purchases 26,000 Shares of The Toro Company (NYSE:TTC)

Thematics Asset Management increased its holdings in shares of The Toro Company (NYSE:TTC) by 20.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 151,473 shares of the company’s stock after purchasing an additional 26,000 shares during the period. Thematics Asset Management’s holdings in Toro were worth $13,137,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Select Equity Group L.P. lifted its holdings in shares of Toro by 1.6% in the second quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock valued at $516,120,000 after purchasing an additional 88,536 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Toro by 1.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock worth $445,673,000 after acquiring an additional 65,800 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Toro by 13.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 901,346 shares of the company’s stock worth $84,279,000 after acquiring an additional 110,330 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in shares of Toro by 41.0% in the second quarter. Ensign Peak Advisors Inc now owns 600,626 shares of the company’s stock worth $56,165,000 after purchasing an additional 174,545 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Toro by 682.7% during the second quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after purchasing an additional 420,539 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TTC. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Northland Securities reiterated a “market perform” rating and set a $100.00 target price on shares of Toro in a report on Friday, September 6th. Robert W. Baird decreased 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, DA Davidson dropped 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. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.33.

Toro Stock Performance

Shares of TTC stock traded down $0.71 during trading on Tuesday, reaching $86.55. 36,950 shares of the company’s stock were exchanged, compared to its average volume of 858,897. The firm’s fifty day moving average price is $83.90 and its 200-day moving average price is $87.93. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00. The stock has a market capitalization of $8.88 billion, a PE ratio of 22.91 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. Toro’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. As a group, sell-side analysts anticipate that The Toro Company will post 4.16 EPS for the current year.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Monday, September 30th. Toro’s dividend payout ratio is presently 37.80%.

Toro 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.