The Toro Company (NYSE:TTC) Position Trimmed by Rhumbline Advisers

Rhumbline Advisers lowered its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 282,280 shares of the company's stock after selling 18,574 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Toro worth $20,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC grew its position in shares of Toro by 127.2% during the fourth quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after buying an additional 206 shares in the last quarter. Asset Planning Inc bought a new position in Toro during the fourth quarter worth $31,000. Venturi Wealth Management LLC lifted its stake in Toro by 195.7% during the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock worth $44,000 after purchasing an additional 362 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after purchasing an additional 127 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Toro by 54.6% during the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock worth $65,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Toro Price Performance

Toro stock traded down $4.87 during midday trading on Friday, hitting $68.43. The company's stock had a trading volume of 2,430,821 shares, compared to its average volume of 952,670. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock's 50-day moving average price is $70.96 and its 200-day moving average price is $77.41. The Toro Company has a 12 month low of $62.34 and a 12 month high of $100.93. The company has a market capitalization of $6.83 billion, a PE ratio of 17.06 and a beta of 0.83.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.35 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. Toro's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. Analysts anticipate that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a yield of 2.22%. Toro's dividend payout ratio is currently 38.97%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TTC shares. Wall Street Zen cut Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. DA Davidson cut their target price on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird raised their target price on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday. Raymond James cut their target price on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Northland Securities restated a "market perform" rating and set a $80.00 price objective (down from $100.00) on shares of Toro in a research note on Friday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $83.75.

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.