HB Wealth Management LLC bought a new position in The Toro Company (NYSE:TTC – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,535 shares of the company’s stock, valued at approximately $283,000.
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Several other large investors have also made changes to their positions in the company. Millennium Management LLC raised its position in Toro by 11,970.3% in the second quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock valued at $36,750,000 after purchasing an additional 389,752 shares during the period. Nuance Investments LLC purchased a new position in Toro in the third quarter valued at about $29,146,000. Marshall Wace LLP purchased a new position in Toro in the second quarter valued at about $25,166,000. Worldquant Millennium Advisors LLC raised its position in Toro by 71.2% in the third quarter. Worldquant Millennium Advisors LLC now owns 217,739 shares of the company’s stock valued at $18,885,000 after purchasing an additional 90,538 shares during the period. Finally, Select Equity Group L.P. raised its position in Toro by 1.6% in the second quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock valued at $516,120,000 after purchasing an additional 88,536 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.
Separately, Raymond James cut their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $93.75.
• Toro Stock is Worth Getting Off Season
Shares of Toro stock opened at $86.01 on Friday. The business has a 50-day moving average of $83.37 and a 200-day moving average of $86.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The company has a market capitalization of $8.70 billion, a PE ratio of 21.45 and a beta of 0.72. The Toro Company has a 1-year low of $76.95 and a 1-year high of $100.93.
• The Toro Company Is Running With The Bulls
Toro (NYSE:TTC – Get Free Report) last announced its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. As a group, equities analysts forecast that The Toro Company will post 4.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were paid a dividend of $0.38 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.77%. Toro’s dividend payout ratio (DPR) is currently 37.91%.
Toro declared that its board has approved a share buyback program on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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.
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