The Toro Company (NYSE:TTC) Shares Purchased by Quantum Private Wealth LLC

Quantum Private Wealth LLC increased its position in shares of The Toro Company (NYSE:TTC) by 26.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,842 shares of the company’s stock after buying an additional 1,619 shares during the period. Quantum Private Wealth LLC’s holdings in Toro were worth $628,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new stake in shares of Toro during the 4th quarter valued at about $31,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Toro by 850.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after buying an additional 765 shares in the last quarter. CWM LLC raised its stake in shares of Toro by 15.5% during the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after buying an additional 143 shares during the period. PrairieView Partners LLC raised its stake in shares of Toro by 14.7% during the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock worth $123,000 after buying an additional 198 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Toro by 534.8% during the 3rd quarter. Blue Trust Inc. now owns 1,333 shares of the company’s stock valued at $125,000 after buying an additional 1,123 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James reduced their price objective on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat, Toro currently has a consensus rating of “Hold” and a consensus target price of $93.75.

Toro Stock Up 0.4 %

NYSE TTC opened at $80.50 on Friday. The business has a fifty day moving average price of $82.38 and a 200 day moving average price of $84.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The company has a market cap of $8.10 billion, a P/E ratio of 20.07 and a beta of 0.72. The Toro Company has a one year low of $76.95 and a one year high of $100.93.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. The business had revenue of $1.08 billion during 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 company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. Research analysts anticipate that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro Increases Dividend

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

Toro declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.