Pallas Capital Advisors LLC Purchases New Position in The Toro Company (NYSE:TTC)

Pallas Capital Advisors LLC acquired a new position in shares of The Toro Company (NYSE:TTC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,064 shares of the company's stock, valued at approximately $1,096,000.

Several other hedge funds have also added to or reduced their stakes in TTC. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Toro by 45.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock valued at $563,207,000 after purchasing an additional 2,199,920 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Toro by 996,664.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company's stock worth $39,410,000 after acquiring an additional 498,332 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Toro in the fourth quarter valued at approximately $36,561,000. The Manufacturers Life Insurance Company lifted its position in shares of Toro by 411.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 464,609 shares of the company's stock worth $37,215,000 after purchasing an additional 373,736 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Toro by 693.0% during the fourth quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock worth $33,238,000 after purchasing an additional 362,634 shares during the last quarter. Institutional investors own 87.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. DA Davidson set a $76.00 price objective on shares of Toro and gave the stock a "neutral" rating in a research note on Monday. Raymond James decreased their price target on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. Robert W. Baird upped their price objective on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Wall Street Zen lowered Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Five 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 data from MarketBeat, Toro currently has a consensus rating of "Hold" and a consensus target price of $82.75.

Toro Price Performance

Shares of TTC stock traded down $0.87 during trading on Thursday, hitting $69.82. The company had a trading volume of 195,121 shares, compared to its average volume of 1,033,301. The firm has a market capitalization of $6.89 billion, a P/E ratio of 17.41 and a beta of 0.83. The Toro Company has a one year low of $62.34 and a one year high of $100.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The stock's 50-day moving average price is $71.09 and its 200 day moving average price is $77.16.

Toro (NYSE:TTC - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the company posted $1.40 EPS. The company's revenue was down 2.3% compared to the same quarter last year. Equities analysts expect that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.38 per share. The ex-dividend date is Tuesday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.18%. Toro's dividend payout ratio is currently 38.97%.

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.