Principal Financial Group Inc. Has $21.61 Million Holdings in The Toro Company (NYSE:TTC)

Principal Financial Group Inc. lowered its position in The Toro Company (NYSE:TTC - Free Report) by 30.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,121 shares of the company's stock after selling 107,090 shares during the quarter. Principal Financial Group Inc. owned 0.24% of Toro worth $21,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Toro by 350.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,258 shares of the company's stock worth $115,000 after purchasing an additional 979 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Toro by 20.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,750 shares of the company's stock valued at $893,000 after acquiring an additional 1,651 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Toro during the first quarter valued at about $425,000. Sei Investments Co. grew its position in Toro by 27.3% in the 1st quarter. Sei Investments Co. now owns 173,236 shares of the company's stock valued at $15,874,000 after buying an additional 37,120 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Toro in the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Analysts Set New Price Targets

TTC has been the subject of several research reports. Northland Securities reaffirmed a "market perform" rating and set a $100.00 target price on shares of Toro in a research note on Friday, September 6th. StockNews.com raised shares of Toro from a "hold" rating to a "buy" rating in a research note on Monday, September 9th. DA Davidson decreased their target price on Toro from $103.00 to $88.00 and set a "neutral" rating for the company in a research report on Monday, September 9th. Finally, Robert W. Baird reduced their price objective on Toro from $102.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Toro presently has a consensus rating of "Hold" and a consensus target price of $93.33.

Toro Stock Down 0.9 %

TTC traded down $0.75 during trading on Thursday, reaching $81.95. 329,240 shares of the stock traded hands, compared to its average volume of 872,048. The stock's 50-day simple moving average is $83.88 and its two-hundred day simple moving average is $88.22. 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 Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 21.51 and a beta of 0.69.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The company reported $1.18 earnings per share 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 for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the business posted $0.95 EPS. Toro's revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that The Toro Company will post 4.16 EPS for the current year.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Monday, September 30th. Toro's payout ratio is 37.80%.

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.