The Toro Company (NYSE:TTC) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC reduced its stake in shares of The Toro Company (NYSE:TTC) by 1.0% during the 4th quarter, HoldingsChannel reports. The firm owned 24,873 shares of the company’s stock after selling 250 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Toro were worth $2,002,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Select Equity Group L.P. lifted its position in Toro by 1.6% during the second quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock worth $516,120,000 after buying an additional 88,536 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Toro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock worth $169,639,000 after acquiring an additional 29,105 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Toro by 13.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 901,346 shares of the company’s stock valued at $84,279,000 after acquiring an additional 110,330 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Toro by 11.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 618,986 shares of the company’s stock valued at $53,685,000 after purchasing an additional 64,660 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Toro by 682.7% during the second quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after purchasing an additional 420,539 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Trading Up 2.8 %

Shares of TTC stock opened at $86.51 on Friday. The Toro Company has a 1-year low of $76.95 and a 1-year high of $100.93. The firm has a market cap of $8.75 billion, a PE ratio of 21.57 and a beta of 0.72. The company has a 50-day moving average of $83.18 and a two-hundred day moving average of $86.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

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

Toro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 23rd were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.76%. This is a boost from Toro’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, December 23rd. Toro’s dividend payout ratio (DPR) is 37.91%.

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

Wall Street Analyst Weigh In

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