Farther Finance Advisors LLC Acquires 4,546 Shares of The Toro Company (NYSE:TTC)

Farther Finance Advisors LLC boosted its stake in shares of The Toro Company (NYSE:TTC) by 118.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,378 shares of the company’s stock after buying an additional 4,546 shares during the quarter. Farther Finance Advisors LLC’s holdings in Toro were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Toro by 996,664.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock valued at $39,410,000 after buying an additional 498,332 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Toro in the 4th quarter worth approximately $36,561,000. Victory Capital Management Inc. grew its holdings in shares of Toro by 693.0% during the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company’s stock worth $33,238,000 after purchasing an additional 362,634 shares in the last quarter. Nuance Investments LLC bought a new stake in shares of Toro during the third quarter valued at approximately $29,146,000. Finally, Amundi raised its stake in shares of Toro by 30.3% in the fourth quarter. Amundi now owns 1,121,116 shares of the company’s stock valued at $89,701,000 after purchasing an additional 260,746 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DA Davidson lowered their price target on shares of Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research report on Monday, February 24th. StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Raymond James dropped their target price on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Finally, Robert W. Baird decreased their price target on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

Toro Stock Up 1.8 %

NYSE TTC opened at $73.19 on Friday. The stock’s 50 day simple moving average is $80.37 and its 200 day simple moving average is $82.97. 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 Toro Company has a one year low of $71.75 and a one year high of $100.93. The firm has a market cap of $7.31 billion, a PE ratio of 18.25 and a beta of 0.70.

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

Toro declared that its board has initiated a stock repurchase program on Tuesday, December 10th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

About Toro

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.