Trexquant Investment LP Decreases Position in The Toro Company (NYSE:TTC)

Trexquant Investment LP lessened its stake in The Toro Company (NYSE:TTC) by 34.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 229,339 shares of the company’s stock after selling 118,199 shares during the quarter. Trexquant Investment LP’s holdings in Toro were worth $18,370,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Asset Planning Inc purchased a new position in shares of Toro during the 4th quarter valued at $31,000. CIBC Private Wealth Group LLC grew its stake in shares of Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock valued at $43,000 after buying an additional 127 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after buying an additional 362 shares during the period. First Horizon Advisors Inc. raised its position in Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the last quarter. Finally, PrairieView Partners LLC lifted its position in shares of Toro by 14.7% in the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock worth $123,000 after purchasing an additional 198 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Trading Down 0.5 %

TTC stock opened at $72.88 on Tuesday. The Toro Company has a fifty-two week low of $71.23 and a fifty-two week high of $100.93. The firm has a market cap of $7.27 billion, a PE ratio of 18.17 and a beta of 0.70. The firm has a fifty day moving average price of $78.78 and a 200 day moving average price of $81.90. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

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

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.09%. Toro’s dividend payout ratio (DPR) is presently 38.87%.

Analysts Set New Price Targets

TTC has been the topic of a number of analyst reports. DA Davidson dropped their price target on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird reduced their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. 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 for the company in a research note on Monday, February 24th. Finally, Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Toro presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

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.