Blueshift Asset Management LLC Acquires New Shares in The Toro Company (NYSE:TTC)

Blueshift Asset Management LLC bought a new position in The Toro Company (NYSE:TTC) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 3,273 shares of the company’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Planning Inc bought a new stake in Toro in the 4th quarter valued at about $31,000. Venturi Wealth Management LLC raised its holdings in shares of Toro by 195.7% during the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after buying an additional 362 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Toro by 54.6% during the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock worth $65,000 after buying an additional 285 shares during the period. PrairieView Partners LLC grew its holdings in 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 buying an additional 198 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its position in Toro by 87.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock valued at $133,000 after acquiring an additional 772 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Price Performance

Shares of NYSE TTC opened at $73.09 on Friday. The Toro Company has a twelve month low of $71.23 and a twelve month high of $100.93. 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 firm has a 50-day moving average of $79.77 and a two-hundred day moving average of $82.37. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 18.23 and a beta of 0.70.

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

Toro announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.38 per share. The ex-dividend date is Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.08%. Toro’s dividend payout ratio (DPR) is presently 38.87%.

Wall Street Analyst Weigh In

TTC has been the subject of several recent analyst reports. Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird dropped their price target on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Raymond James decreased their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Finally, DA Davidson dropped their target price on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

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.