Brown Brothers Harriman & Co. Boosts Position in The Toro Company (NYSE:TTC)

Brown Brothers Harriman & Co. grew its position in The Toro Company (NYSE:TTC) by 57.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 226,719 shares of the company’s stock after purchasing an additional 82,866 shares during the period. Brown Brothers Harriman & Co.’s holdings in Toro were worth $21,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. raised its position in Toro by 1,204.8% during the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after acquiring an additional 253 shares during the last quarter. Rise Advisors LLC raised its position in shares of Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 288 shares during the last quarter. Principal Securities Inc. purchased a new stake in Toro in the 4th quarter valued at approximately $66,000. Headlands Technologies LLC purchased a new stake in Toro in the 1st quarter valued at approximately $66,000. Finally, Covestor Ltd grew its holdings in Toro by 522.6% during the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after buying an additional 601 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Price Performance

Shares of NYSE:TTC opened at $83.65 on Monday. The company has a market cap of $8.58 billion, a P/E ratio of 33.06 and a beta of 0.69. The business has a fifty day simple moving average of $90.83 and a 200-day simple moving average of $89.58. The Toro Company has a 52 week low of $77.15 and a 52 week 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.

Toro (NYSE:TTC) last posted its quarterly 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 analysts’ expectations of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. Equities research analysts forecast that The Toro Company will post 4.16 EPS for the current year.

Wall Street Analyst Weigh In

TTC has been the subject of a number of analyst reports. Northland Securities reissued a “market perform” rating and issued a $100.00 price target on shares of Toro in a report on Friday, September 6th. DA Davidson cut their target price on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Finally, Robert W. Baird lowered their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Toro currently has a consensus rating of “Hold” and an average price target of $93.33.

Insider Buying and Selling

In other Toro news, CEO Richard M. Olson sold 20,000 shares of Toro stock in a transaction on Friday, June 21st. The shares were sold at an average price of $95.19, for a total value of $1,903,800.00. Following the transaction, the chief executive officer now owns 17,913 shares in the company, valued at approximately $1,705,138.47. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.62% of the stock is currently owned by company insiders.

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.