Mather Group LLC. Decreases Stake in The Toro Company (NYSE:TTC)

Mather Group LLC. reduced its stake in The Toro Company (NYSE:TTC - Free Report) by 73.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,163 shares of the company's stock after selling 6,132 shares during the period. Mather Group LLC.'s holdings in Toro were worth $188,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System lifted its holdings in Toro by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 28,680 shares of the company's stock worth $2,682,000 after buying an additional 110 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Toro by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company's stock valued at $4,405,000 after acquiring an additional 123 shares in the last quarter. Toronto Dominion Bank increased its position in Toro by 1.4% during the 2nd quarter. Toronto Dominion Bank now owns 10,060 shares of the company's stock valued at $941,000 after purchasing an additional 136 shares during the period. Fifth Third Bancorp raised its holdings in Toro by 22.4% in the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company's stock worth $85,000 after purchasing an additional 166 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Toro by 1,204.8% in the 1st quarter. UMB Bank n.a. now owns 274 shares of the company's stock worth $25,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

TTC has been the topic of several research analyst reports. 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 raised Toro from a "hold" rating to a "buy" rating in a research report on Monday, September 9th. Robert W. Baird dropped their price target on Toro from $102.00 to $92.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. Finally, Northland Securities reiterated a "market perform" rating and issued a $100.00 price objective on shares of Toro in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Toro has a consensus rating of "Hold" and an average price target of $93.33.

Toro Stock Up 1.6 %

Shares of TTC stock traded up $1.30 during trading hours on Friday, hitting $83.57. 1,021,044 shares of the company's stock traded hands, compared to its average volume of 968,186. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The stock's fifty day simple moving average is $87.16 and its two-hundred day simple moving average is $88.88. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 21.93 and a beta of 0.68.

Toro (NYSE:TTC - Get Free Report) last announced its quarterly earnings data 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). Toro had a net margin of 8.89% and a return on equity of 25.94%. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that The Toro Company will post 4.16 EPS for the current year.

Toro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.44 annualized dividend and a yield of 1.72%. Toro's dividend payout ratio (DPR) is presently 37.80%.

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.