Natixis Investment Managers International Cuts Position in The Toro Company (NYSE:TTC)

Natixis Investment Managers International reduced its holdings in shares of The Toro Company (NYSE:TTC) by 19.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,990 shares of the company’s stock after selling 481 shares during the period. Natixis Investment Managers International’s holdings in The Toro were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TTC. Brown Brothers Harriman & Co. raised its stake in The Toro by 77.8% during the second quarter. Brown Brothers Harriman & Co. now owns 8,534 shares of the company’s stock worth $938,000 after purchasing an additional 3,734 shares during the period. Montanaro Asset Management Ltd increased its holdings in The Toro by 3.1% in the 2nd quarter. Montanaro Asset Management Ltd now owns 32,900 shares of the company’s stock valued at $3,615,000 after purchasing an additional 1,000 shares in the last quarter. LPL Financial LLC increased its holdings in The Toro by 3.2% in the 2nd quarter. LPL Financial LLC now owns 44,082 shares of the company’s stock valued at $4,844,000 after purchasing an additional 1,382 shares in the last quarter. Stifel Financial Corp increased its holdings in The Toro by 6.1% in the 2nd quarter. Stifel Financial Corp now owns 125,974 shares of the company’s stock valued at $13,841,000 after purchasing an additional 7,204 shares in the last quarter. Finally, AXA S.A. increased its holdings in The Toro by 428.0% in the 2nd quarter. AXA S.A. now owns 39,600 shares of the company’s stock valued at $4,351,000 after purchasing an additional 32,100 shares in the last quarter. Institutional investors and hedge funds own 80.98% of the company’s stock.

Several analysts have recently weighed in on TTC shares. Robert W. Baird downgraded The Toro from an “outperform” rating to a “neutral” rating and set a $116.00 target price for the company. in a research note on Thursday, August 19th. Zacks Investment Research lowered The Toro from a “buy” rating to a “hold” rating in a report on Thursday, August 5th. Finally, Colliers Securities restated a “neutral” rating on shares of The Toro in a report on Thursday, July 1st.

In related news, Director Janet Katherine Cooper sold 1,702 shares of the stock in a transaction that occurred on Tuesday, September 28th. The stock was sold at an average price of $99.18, for a total transaction of $168,804.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

NYSE:TTC traded up $0.57 during mid-day trading on Thursday, hitting $95.15. 221 shares of the company’s stock traded hands, compared to its average volume of 448,268. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a current ratio of 1.61, a quick ratio of 0.92 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $105.72 and a two-hundred day moving average of $108.62. The Toro Company has a 12 month low of $80.77 and a 12 month high of $118.13.

The Toro (NYSE:TTC) last posted its earnings results on Wednesday, September 1st. The company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.16. The business had revenue of $976.20 million for the quarter, compared to analyst estimates of $954.66 million. The Toro had a net margin of 10.99% and a return on equity of 33.79%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS. As a group, equities research analysts expect that The Toro Company will post 3.61 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 21st. Investors of record on Wednesday, October 6th will be given a $0.2625 dividend. The ex-dividend date of this dividend is Tuesday, October 5th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 1.10%. The Toro’s dividend payout ratio is 34.77%.

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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Institutional Ownership by Quarter for The Toro (NYSE:TTC)

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