Point72 Asia Singapore Pte. Ltd. Boosts Stock Position in The Toro Company (NYSE:TTC)

Point72 Asia Singapore Pte. Ltd. lifted its position in shares of The Toro Company (NYSE:TTC) by 42.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,318 shares of the company’s stock after buying an additional 1,279 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Toro were worth $374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Edgestream Partners L.P. raised its stake in shares of Toro by 28.3% during the third quarter. Edgestream Partners L.P. now owns 26,331 shares of the company’s stock worth $2,284,000 after acquiring an additional 5,806 shares in the last quarter. Verition Fund Management LLC raised its position in Toro by 127.2% in the 3rd quarter. Verition Fund Management LLC now owns 24,606 shares of the company’s stock worth $2,134,000 after purchasing an additional 13,776 shares during the period. PEAK6 Investments LLC bought a new stake in Toro in the third quarter worth $1,248,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Toro by 11.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 618,986 shares of the company’s stock valued at $53,685,000 after buying an additional 64,660 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Toro by 4.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,201 shares of the company’s stock valued at $3,226,000 after buying an additional 1,541 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Stock Down 0.7 %

Shares of Toro stock opened at $86.47 on Tuesday. The company’s fifty day simple moving average is $84.01 and its two-hundred day simple moving average is $87.84. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The company has a market cap of $8.87 billion, a P/E ratio of 22.70 and a beta of 0.70.

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

Toro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.36 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.44 annualized dividend and a yield of 1.67%. Toro’s payout ratio is 37.80%.

Analyst Upgrades and Downgrades

TTC has been the subject of several analyst reports. Northland Securities restated a “market perform” rating and set a $100.00 target price on shares of Toro in a report on Friday, September 6th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Robert W. Baird lowered their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Finally, DA Davidson cut their target price 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Toro currently has a consensus rating of “Hold” and a consensus target price of $93.33.

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.