Quest Partners LLC Increases Stock Position in The Toro Company (NYSE:TTC)

Quest Partners LLC lifted its holdings in shares of The Toro Company (NYSE:TTC) by 62,750.0% during the third quarter, HoldingsChannel.com reports. The fund owned 3,771 shares of the company’s stock after purchasing an additional 3,765 shares during the quarter. Quest Partners LLC’s holdings in Toro were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Speece Thorson Capital Group Inc. grew its position in shares of Toro by 24.5% during the third quarter. Speece Thorson Capital Group Inc. now owns 144,438 shares of the company’s stock worth $12,527,000 after acquiring an additional 28,453 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of Toro by 3.0% during the second quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock worth $30,396,000 after acquiring an additional 9,371 shares during the last quarter. Atria Investments Inc purchased a new position in shares of Toro during the first quarter worth approximately $1,139,000. Raymond James & Associates grew its position in shares of Toro by 5.7% during the third quarter. Raymond James & Associates now owns 278,700 shares of the company’s stock worth $24,172,000 after acquiring an additional 14,950 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Toro by 5.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 200,456 shares of the company’s stock worth $17,386,000 after acquiring an additional 9,998 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TTC has been the topic of a number of analyst reports. DA Davidson lowered their price objective 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. Northland Securities reiterated a “market perform” rating and issued a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Finally, Robert W. Baird lowered their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Toro presently has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Price Performance

Toro stock opened at $87.28 on Tuesday. The Toro Company has a one year low of $77.15 and a one year high of $102.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The business has a fifty day moving average of $83.85 and a two-hundred day moving average of $87.94. The company has a market cap of $8.96 billion, a P/E ratio of 22.91 and a beta of 0.69.

Toro (NYSE:TTC) last released its earnings results on Thursday, September 5th. The company reported $1.18 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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business posted $0.95 EPS. Toro’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts predict that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The firm 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. This represents a $1.44 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio (DPR) is currently 37.80%.

Toro Company 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.