Quantum Private Wealth LLC Boosts Holdings in The Toro Company (NYSE:TTC)

Quantum Private Wealth LLC increased its position in shares of The Toro Company (NYSE:TTC) by 26.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,842 shares of the company’s stock after purchasing an additional 1,619 shares during the quarter. Quantum Private Wealth LLC’s holdings in Toro were worth $628,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its position in Toro by 0.8% in the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock valued at $1,225,000 after purchasing an additional 120 shares during the period. Lindenwold Advisors INC increased its position in shares of Toro by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock worth $400,000 after purchasing an additional 125 shares during the last quarter. Northwest Financial Advisors raised its holdings in Toro by 2.0% in the 4th quarter. Northwest Financial Advisors now owns 6,945 shares of the company’s stock valued at $556,000 after buying an additional 139 shares during the period. CWM LLC lifted its position in Toro by 15.5% in 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 boosted its stake in Toro by 1.0% during 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. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Raymond James reduced their price target on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Toro currently has a consensus rating of “Hold” and an average price target of $93.75.

Toro Price Performance

TTC opened at $80.50 on Friday. The stock’s 50-day moving average price is $82.38 and its 200 day moving average price is $84.67. The Toro Company has a 12-month low of $76.95 and a 12-month high of $100.93. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 20.07 and a beta of 0.72. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, sell-side analysts expect that The Toro Company will post 4.41 earnings per share for the current year.

Toro declared that its board has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were given a dividend of $0.38 per share. The ex-dividend date was Monday, December 23rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio is currently 37.91%.

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.