Klein Pavlis & Peasley Financial Inc. Increases Holdings in The Toro Company (NYSE:TTC)

Klein Pavlis & Peasley Financial Inc. lifted its position in The Toro Company (NYSE:TTC) by 6.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,879 shares of the company’s stock after purchasing an additional 507 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in Toro were worth $683,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of TTC. Wealth Enhancement Advisory Services LLC raised its stake in shares of Toro by 6.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,208 shares of the company’s stock worth $1,760,000 after purchasing an additional 1,248 shares during the last quarter. Claro Advisors LLC raised its position in Toro by 4.9% during the first quarter. Claro Advisors LLC now owns 7,394 shares of the company’s stock valued at $677,000 after acquiring an additional 347 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Toro by 350.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,258 shares of the company’s stock valued at $115,000 after acquiring an additional 979 shares in the last quarter. State of Michigan Retirement System raised its position in Toro by 2.8% during the first quarter. State of Michigan Retirement System now owns 25,632 shares of the company’s stock valued at $2,349,000 after acquiring an additional 700 shares in the last quarter. Finally, Accel Wealth Management raised its position in Toro by 19.9% during the first quarter. Accel Wealth Management now owns 2,510 shares of the company’s stock valued at $230,000 after acquiring an additional 416 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Stock Down 0.5 %

Shares of TTC opened at $81.70 on Monday. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The Toro Company has a 12 month low of $77.15 and a 12 month high of $102.00. The stock’s 50 day moving average is $85.95 and its two-hundred day moving average is $88.51. The firm has a market cap of $8.38 billion, a P/E ratio of 21.44 and a beta of 0.68.

Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, September 5th. The company reported $1.18 EPS 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 during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts predict that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently declared 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 dividend payout ratio is presently 37.80%.

Analyst Ratings Changes

Several brokerages recently weighed in on TTC. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Northland Securities reiterated a “market perform” rating and set a $100.00 price target on shares of Toro in a research report on Friday, September 6th. DA Davidson reduced their price target 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 dropped their price objective on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report 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, the stock presently has an average rating of “Hold” and a consensus price target of $93.33.

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.