E. Ohman J or Asset Management AB Buys 2,000 Shares of The Toro Company (NYSE:TTC)

E. Ohman J or Asset Management AB raised its stake in shares of The Toro Company (NYSE:TTC) by 45.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,400 shares of the company’s stock after purchasing an additional 2,000 shares during the period. E. Ohman J or Asset Management AB’s holdings in Toro were worth $513,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. abrdn plc grew its holdings in Toro by 12.0% during the fourth quarter. abrdn plc now owns 3,220 shares of the company’s stock valued at $258,000 after purchasing an additional 346 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Toro by 3.6% in the fourth quarter. Boston Trust Walden Corp now owns 334,132 shares of the company’s stock worth $26,764,000 after acquiring an additional 11,549 shares during the period. Willis Investment Counsel boosted its stake in shares of Toro by 10.8% in the fourth quarter. Willis Investment Counsel now owns 4,548 shares of the company’s stock worth $364,000 after acquiring an additional 445 shares during the period. Northwest Financial Advisors boosted its stake in shares of Toro by 2.0% in the fourth quarter. Northwest Financial Advisors now owns 6,945 shares of the company’s stock worth $556,000 after acquiring an additional 139 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Toro by 0.8% in the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock worth $1,225,000 after acquiring an additional 120 shares during the period. Institutional investors own 87.95% of the company’s stock.

Toro Price Performance

NYSE:TTC opened at $80.71 on Thursday. 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 company has a market capitalization of $8.17 billion, a P/E ratio of 20.13 and a beta of 0.72. The Toro Company has a 12 month low of $76.95 and a 12 month high of $100.93. The business’s 50-day moving average is $83.28 and its 200 day moving average is $85.46.

Toro (NYSE:TTC) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. On average, equities research analysts forecast that The Toro Company will post 4.41 earnings per share for the current fiscal 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 given a $0.38 dividend. This is an increase from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Monday, December 23rd. Toro’s payout ratio is currently 37.91%.

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

Analysts Set New Price Targets

Separately, Raymond James dropped their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently 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.