UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 64,660 Shares of The Toro Company (NYSE:TTC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in The Toro Company (NYSE:TTC) by 11.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 618,986 shares of the company’s stock after buying an additional 64,660 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Toro were worth $53,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after acquiring an additional 333 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Toro by 850.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after purchasing an additional 765 shares during the period. Fifth Third Bancorp increased its position in shares of Toro by 22.4% during the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares during the period. CWM LLC raised its stake in shares of Toro by 15.5% in the third quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after purchasing an additional 143 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in Toro in the second quarter worth $94,000. Institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TTC shares. Robert W. Baird dropped their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Northland Securities reissued a “market perform” rating and issued a $100.00 price target on shares of Toro in a research report on Friday, September 6th. DA Davidson decreased their price objective on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, StockNews.com raised Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. 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, the company currently has a consensus rating of “Hold” and an average price target of $93.33.

Toro Trading Down 0.2 %

Shares of TTC stock opened at $86.35 on Wednesday. The company has a market capitalization of $8.86 billion, a P/E ratio of 22.66 and a beta of 0.70. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00. 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 firm has a 50-day moving average price of $84.01 and a 200 day moving average price of $87.82.

Toro (NYSE:TTC) last announced its 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). The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share. Research analysts forecast 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. Stockholders of record on Monday, September 30th were paid a $0.36 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.67%. 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.