Impax Asset Management Group plc Sells 54,547 Shares of The Toro Company (NYSE:TTC)

Impax Asset Management Group plc decreased its position in The Toro Company (NYSE:TTC) by 71.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,976 shares of the company’s stock after selling 54,547 shares during the quarter. Impax Asset Management Group plc’s holdings in Toro were worth $1,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of Toro by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 28,680 shares of the company’s stock valued at $2,682,000 after purchasing an additional 110 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Toro by 0.3% during the second quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company’s stock valued at $4,405,000 after buying an additional 123 shares during the period. Toronto Dominion Bank boosted its position in Toro by 1.4% during the second quarter. Toronto Dominion Bank now owns 10,060 shares of the company’s stock valued at $941,000 after buying an additional 136 shares during the period. CWM LLC grew its stake in shares of Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after buying an additional 143 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC increased its holdings in shares of Toro by 1.0% in the third quarter. Taylor Frigon Capital Management LLC now owns 15,201 shares of the company’s stock worth $1,318,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Stock Down 1.4 %

Shares of NYSE:TTC opened at $80.96 on Friday. The firm has a market capitalization of $8.31 billion, a P/E ratio of 21.25 and a beta of 0.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The stock has a 50 day moving average price of $83.87 and a 200-day moving average price of $88.13. The Toro Company has a 52-week low of $77.15 and a 52-week high of $102.00.

Toro (NYSE:TTC) last announced 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). The firm had revenue of $1.16 billion for 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 business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. As a group, equities research analysts anticipate that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio (DPR) is presently 37.80%.

Analysts Set New Price Targets

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

Toro 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.