ArrowMark Colorado Holdings LLC Trims Stock Position in The Toro Company (NYSE:TTC)

ArrowMark Colorado Holdings LLC decreased its position in shares of The Toro Company (NYSE:TTC) by 0.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 936,795 shares of the company’s stock after selling 428 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Toro were worth $81,248,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in TTC. UMB Bank n.a. grew its position in shares of Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after acquiring an additional 333 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings 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 worth $74,000 after buying an additional 765 shares during the last quarter. Fifth Third Bancorp increased its position in Toro by 22.4% in the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after acquiring an additional 166 shares during the period. CWM LLC lifted its position in Toro by 15.5% during the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after acquiring an additional 143 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of Toro in the 2nd quarter valued at approximately $94,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Toro Stock Performance

NYSE:TTC opened at $87.08 on Monday. The firm has a 50-day moving average price of $84.00 and a two-hundred day moving average price of $87.85. The company has a market capitalization of $8.94 billion, a P/E ratio of 22.86 and a beta of 0.69. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company posted $0.95 EPS. Toro’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio 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.