Rockland Trust Co. Purchases 6,016 Shares of The Toro Company (NYSE:TTC)

Rockland Trust Co. grew its position in The Toro Company (NYSE:TTC) by 3.9% in the first quarter, HoldingsChannel.com reports. The firm owned 160,239 shares of the company’s stock after acquiring an additional 6,016 shares during the period. Rockland Trust Co.’s holdings in Toro were worth $14,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TTC. UBS Group AG boosted its position in shares of Toro by 1.1% in the third quarter. UBS Group AG now owns 60,100 shares of the company’s stock worth $4,994,000 after purchasing an additional 666 shares during the period. Paralel Advisors LLC boosted its position in shares of Toro by 1.3% during the third quarter. Paralel Advisors LLC now owns 17,225 shares of the company’s stock worth $1,431,000 after acquiring an additional 215 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of Toro by 40.9% during the third quarter. Kestra Advisory Services LLC now owns 3,143 shares of the company’s stock worth $261,000 after acquiring an additional 912 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Toro during the third quarter worth $267,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Toro by 24.4% during the third quarter. Envestnet Asset Management Inc. now owns 128,430 shares of the company’s stock worth $10,673,000 after acquiring an additional 25,228 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TTC shares. StockNews.com lowered shares of Toro from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Robert W. Baird upped their target price on shares of Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Finally, DA Davidson upped their target price on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.75.

Toro Price Performance

TTC stock traded down $0.23 during trading on Friday, hitting $95.52. 1,624,650 shares of the company’s stock traded hands, compared to its average volume of 1,416,812. The Toro Company has a 52 week low of $77.15 and a 52 week high of $106.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.93. The business has a fifty day simple moving average of $88.08 and a 200 day simple moving average of $90.25. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 37.76 and a beta of 0.67.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, June 6th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.29 by $0.11. Toro had a net margin of 6.00% and a return on equity of 25.04%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business earned $1.58 earnings per share. Toro’s quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts expect that The Toro Company will post 4.33 EPS for the current fiscal year.

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 18th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $1.44 annualized dividend and a yield of 1.51%. Toro’s dividend payout ratio (DPR) is currently 56.92%.

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.