The Toro Company (NYSE:TTC) Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC lifted its position in shares of The Toro Company (NYSE:TTC) by 22.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,490 shares of the company’s stock after purchasing an additional 9,018 shares during the quarter. NewEdge Wealth LLC’s holdings in Toro were worth $3,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Speece Thorson Capital Group Inc. grew its stake in Toro by 24.5% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 144,438 shares of the company’s stock valued at $12,527,000 after acquiring an additional 28,453 shares during the period. PEAK6 Investments LLC acquired a new stake in Toro in the 3rd quarter valued at $1,248,000. Benjamin Edwards Inc. grew its stake in Toro by 6,995.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 74,005 shares of the company’s stock valued at $6,418,000 after acquiring an additional 72,962 shares during the period. Eagle Asset Management Inc. acquired a new stake in Toro in the 3rd quarter valued at $1,261,000. Finally, Point72 DIFC Ltd grew its stake in Toro by 101.6% in the 3rd quarter. Point72 DIFC Ltd now owns 13,000 shares of the company’s stock valued at $1,127,000 after acquiring an additional 6,550 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TTC. Raymond James dropped 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. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Monday, February 24th. Finally, Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.75.

Toro Stock Up 0.2 %

NYSE TTC opened at $80.06 on Friday. The Toro Company has a 52 week low of $76.95 and a 52 week high of $100.93. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $81.48 and its 200-day simple moving average is $84.10. The firm has a market cap of $8.06 billion, a PE ratio of 19.96 and a beta of 0.72.

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

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 23rd were issued 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 1.90%. The ex-dividend date of this dividend was Monday, December 23rd. Toro’s payout ratio is 37.91%.

Toro announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management 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.