Global Retirement Partners LLC Raises Stock Holdings in The Toro Company (NYSE:TTC)

Global Retirement Partners LLC boosted its position in shares of The Toro Company (NYSE:TTC) by 26.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,246 shares of the company’s stock after acquiring an additional 889 shares during the period. Global Retirement Partners LLC’s holdings in Toro were worth $340,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Asset Planning Inc purchased a new position in shares of Toro during the 4th quarter valued at $31,000. Venturi Wealth Management LLC lifted its position in shares of Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after acquiring an additional 362 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Toro by 534.8% in the third quarter. Blue Trust Inc. now owns 1,333 shares of the company’s stock worth $125,000 after acquiring an additional 1,123 shares during the period. PrairieView Partners LLC grew its position in shares of Toro by 14.7% during the fourth quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock worth $123,000 after purchasing an additional 198 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its stake in Toro by 87.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock valued at $133,000 after purchasing an additional 772 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TTC. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Monday. Raymond James cut their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.75.

Toro Stock Down 0.1 %

NYSE:TTC opened at $79.89 on Tuesday. The stock has a fifty day simple moving average of $81.61 and a 200-day simple moving average of $84.20. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 19.92 and a beta of 0.72. The Toro Company has a twelve month low of $76.95 and a twelve month high of $100.93.

Toro (NYSE:TTC) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. Analysts anticipate that The Toro Company will post 4.41 EPS for the current year.

Toro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were given a dividend of $0.38 per share. The ex-dividend date was Monday, December 23rd. This is a positive change from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 1.90%. Toro’s payout ratio is 37.91%.

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

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.