Quantinno Capital Management LP Has $2.48 Million Position in The Toro Company (NYSE:TTC)

Quantinno Capital Management LP lifted its position in shares of The Toro Company (NYSE:TTC) by 153.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,627 shares of the company’s stock after buying an additional 17,330 shares during the period. Quantinno Capital Management LP’s holdings in Toro were worth $2,483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. boosted its position in shares of Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after buying an additional 333 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Toro by 850.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock worth $74,000 after buying an additional 765 shares during the period. Fifth Third Bancorp boosted its position in shares of Toro by 22.4% during the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock worth $85,000 after buying an additional 166 shares during the period. Rothschild Investment LLC acquired a new position in shares of Toro during the second quarter worth about $94,000. Finally, CWM LLC boosted its position in 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 purchasing an additional 143 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TTC. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. 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. Northland Securities reissued a “market perform” rating and set a $100.00 price target on shares of Toro in a research report on Friday, September 6th. Finally, Robert W. Baird reduced their price target on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $93.33.

Toro Price Performance

NYSE:TTC opened at $87.45 on Wednesday. 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 stock’s 50 day moving average price is $84.05 and its two-hundred day moving average price is $87.86. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 22.95 and a beta of 0.70. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00.

Toro Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 23rd will be paid a $0.38 dividend. This is a positive change from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.74%. Toro’s dividend payout ratio is currently 37.80%.

Toro announced that its board has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.