Radnor Capital Management LLC Acquires New Holdings in The Toro Company (NYSE:TTC)

Radnor Capital Management LLC bought a new position in shares of The Toro Company (NYSE:TTC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,900 shares of the company’s stock, valued at approximately $1,379,000.

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System increased its holdings in Toro by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 28,680 shares of the company’s stock worth $2,682,000 after purchasing an additional 110 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Toro by 0.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company’s stock valued at $4,405,000 after acquiring an additional 123 shares during the period. Toronto Dominion Bank raised its stake in shares of 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 acquiring an additional 136 shares during the last quarter. CWM LLC lifted its holdings in shares of Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after purchasing an additional 143 shares during the period. Finally, Taylor Frigon Capital Management LLC grew its stake 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 purchasing an additional 146 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on TTC. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Robert W. Baird lowered their target price 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. Northland Securities reaffirmed a “market perform” rating and set a $100.00 price target on shares of Toro in a research report on Friday, September 6th. Finally, DA Davidson lowered their price objective on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Toro presently has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Stock Up 1.9 %

Shares of NYSE TTC opened at $84.85 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The firm has a market cap of $8.71 billion, a PE ratio of 22.27 and a beta of 0.69. The company’s fifty day simple moving average is $84.59 and its 200 day simple moving average is $88.29. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00.

Toro (NYSE:TTC) last issued its earnings results 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 firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

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 dividend of $0.36 per share. The ex-dividend date was Monday, September 30th. This represents a $1.44 annualized dividend and a yield of 1.70%. Toro’s payout ratio is 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.