Impax Asset Management Group plc Reduces Holdings in The Toro Company (NYSE:TTC)

Impax Asset Management Group plc cut its stake in The Toro Company (NYSE:TTC) by 71.3% in the third quarter, Holdings Channel.com reports. The fund owned 21,976 shares of the company’s stock after selling 54,547 shares during the quarter. Impax Asset Management Group plc’s holdings in Toro were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. purchased a new position in Toro during the 3rd quarter worth approximately $666,000. Financial Advocates Investment Management grew its position in shares of Toro by 7.2% during the third quarter. Financial Advocates Investment Management now owns 3,196 shares of the company’s stock worth $277,000 after acquiring an additional 214 shares during the last quarter. abrdn plc increased its holdings in shares of Toro by 5.8% in the 3rd quarter. abrdn plc now owns 2,874 shares of the company’s stock valued at $249,000 after acquiring an additional 157 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its position in Toro by 6.9% in the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,879 shares of the company’s stock valued at $683,000 after purchasing an additional 507 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Toro by 4.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 18,646 shares of the company’s stock worth $1,616,000 after purchasing an additional 815 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Trading Up 3.2 %

NYSE TTC opened at $83.24 on Wednesday. The Toro Company has a 52-week low of $77.15 and a 52-week high of $102.00. The firm has a 50-day moving average price of $84.71 and a 200 day moving average price of $88.31. The stock has a market capitalization of $8.54 billion, a P/E ratio of 21.85 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 posted its quarterly earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). Toro had a net margin of 8.89% and a return on equity of 25.94%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.36 per share. The ex-dividend date was Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.73%. Toro’s dividend payout ratio (DPR) is presently 37.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TTC shares. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. DA Davidson reduced their price objective on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Robert W. Baird lowered their target price on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, Northland Securities restated a “market perform” rating and set a $100.00 price target on shares of Toro in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Toro presently has a consensus rating of “Hold” and an average 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.