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

Apollon Wealth Management LLC boosted its stake in The Toro Company (NYSE:TTC) by 27.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,900 shares of the company’s stock after buying an additional 2,150 shares during the period. Apollon Wealth Management LLC’s holdings in Toro were worth $793,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Financial Advocates Investment Management increased its position in Toro by 35.5% in the fourth quarter. Financial Advocates Investment Management now owns 4,330 shares of the company’s stock worth $347,000 after buying an additional 1,134 shares during the period. Bleakley Financial Group LLC boosted its stake in Toro by 36.1% during the fourth quarter. Bleakley Financial Group LLC now owns 10,052 shares of the company’s stock valued at $805,000 after buying an additional 2,664 shares in the last quarter. Robertson Stephens Wealth Management LLC boosted its stake in Toro by 59.9% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 3,973 shares of the company’s stock valued at $320,000 after buying an additional 1,489 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in Toro by 45.5% during the fourth quarter. E. Ohman J or Asset Management AB now owns 6,400 shares of the company’s stock valued at $513,000 after buying an additional 2,000 shares in the last quarter. Finally, abrdn plc boosted its position in shares of Toro by 12.0% in the 4th quarter. abrdn plc now owns 3,220 shares of the company’s stock valued at $258,000 after purchasing an additional 346 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Stock Up 0.1 %

Shares of Toro stock opened at $80.15 on Wednesday. The stock has a 50-day moving average price of $82.89 and a 200 day moving average price of $85.05. The company has a market cap of $8.07 billion, a P/E ratio of 19.99 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. The Toro Company has a 1 year low of $76.95 and a 1 year 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 (EPS) for the quarter, hitting the consensus estimate of $0.95. The firm 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 business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. As a group, analysts expect that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro announced that its board has authorized a share buyback program on Tuesday, December 10th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Toro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 23rd were paid a $0.38 dividend. This is an increase 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 dividend payout ratio is currently 37.91%.

Analyst Upgrades and Downgrades

Separately, Raymond James decreased their price target on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.75.

Toro Company 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.