BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stake in The Toro Company (NYSE:TTC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in The Toro Company (NYSE:TTC - Free Report) by 62.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,010 shares of the company's stock after buying an additional 7,711 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Toro were worth $1,871,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TTC. Vanguard Group Inc. boosted its position in shares of Toro by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company's stock worth $968,083,000 after purchasing an additional 73,719 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Toro by 25.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company's stock worth $609,626,000 after buying an additional 1,332,248 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Toro by 1.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company's stock worth $445,673,000 after buying an additional 65,800 shares during the period. Mairs & Power Inc. grew its stake in shares of Toro by 0.6% in the fourth quarter. Mairs & Power Inc. now owns 3,225,547 shares of the company's stock valued at $309,620,000 after buying an additional 18,899 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in shares of Toro by 11.5% in the 1st quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company's stock valued at $249,751,000 after buying an additional 280,855 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TTC shares. DA Davidson reduced their price target on shares of Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday, September 9th. StockNews.com upgraded shares of Toro from a "hold" rating to a "buy" rating in a research note on Monday, September 9th. Robert W. Baird decreased their target price on Toro from $102.00 to $92.00 and set a "neutral" rating for the company in a report 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 report on Friday, September 6th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $93.33.

Toro Stock Performance

Shares of TTC stock traded up $0.03 during trading hours on Monday, hitting $86.68. The stock had a trading volume of 997,700 shares, compared to its average volume of 889,551. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The firm has a market capitalization of $8.89 billion, a PE ratio of 34.11 and a beta of 0.69. The stock's 50 day moving average is $89.25 and its 200 day moving average is $89.22. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). Toro had a return on equity of 25.94% and a net margin of 8.89%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The company's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts forecast that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a yield of 1.66%. Toro's payout ratio 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.