Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in The Toro Company (NYSE:TTC) by 26.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,580 shares of the company’s stock after purchasing an additional 1,182 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in The Toro were worth $613,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in TTC. Ameritas Investment Company LLC purchased a new stake in The Toro during the 1st quarter worth approximately $34,000. Harbour Investments Inc. acquired a new position in shares of The Toro in the 1st quarter worth approximately $46,000. Eagle Bay Advisors LLC acquired a new position in shares of The Toro in the 2nd quarter worth approximately $47,000. Tortoise Investment Management LLC grew its position in shares of The Toro by 106.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 524 shares of the company’s stock worth $58,000 after acquiring an additional 270 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of The Toro by 48.2% in the 2nd quarter. Fifth Third Bancorp now owns 535 shares of the company’s stock worth $59,000 after acquiring an additional 174 shares in the last quarter. Institutional investors own 80.98% of the company’s stock.
NYSE:TTC opened at $98.40 on Friday. The Toro Company has a 12-month low of $80.77 and a 12-month high of $118.13. The firm has a market capitalization of $10.47 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.61 and a quick ratio of 0.92. The business has a 50 day simple moving average of $109.49 and a 200 day simple moving average of $108.99.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 21st. Shareholders of record on Wednesday, October 6th will be paid a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Tuesday, October 5th. The Toro’s payout ratio is currently 34.77%.
A number of research analysts recently issued reports on TTC shares. Robert W. Baird lowered The Toro from an “outperform” rating to a “neutral” rating and set a $116.00 price objective for the company. in a research report on Thursday, August 19th. Zacks Investment Research lowered The Toro from a “buy” rating to a “hold” rating in a research report on Thursday, August 5th. Finally, Colliers Securities restated a “neutral” rating on shares of The Toro in a research report on Thursday, July 1st.
The Toro Profile
The Toro Co designs, manufactures, and markets a range of turf equipment. It operates through the following segments: Professional and Residential. The Professional segment consists of turf & landscape equipment; rental, specialty, and underground construction equipment; snow & ice management equipment; and irrigation products.
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