The Toro Company (NYSE:TTC) Shares Bought by US Bancorp DE

US Bancorp DE raised its position in The Toro Company (NYSE:TTC) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 799,385 shares of the company’s stock after purchasing an additional 24,596 shares during the period. US Bancorp DE owned 0.79% of Toro worth $64,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Planning Inc purchased a new position in Toro in the fourth quarter valued at $31,000. Venturi Wealth Management LLC increased its holdings in shares of Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after acquiring an additional 362 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after acquiring an additional 285 shares during the last quarter. PrairieView Partners LLC raised its position in shares of Toro by 14.7% during the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock worth $123,000 after acquiring an additional 198 shares in the last quarter. Finally, Eagle Bay Advisors LLC lifted its stake in Toro by 87.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock worth $133,000 after purchasing an additional 772 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Stock Performance

Shares of TTC opened at $80.06 on Friday. The company’s 50 day simple moving average is $81.45 and its 200-day simple moving average is $84.04. The firm has a market cap of $8.06 billion, a PE ratio of 19.96 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 company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 9.14% and a return on equity of 27.25%. Toro’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.71 EPS. As a group, equities analysts predict that The Toro Company will post 4.41 EPS for the current year.

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

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were paid a dividend of $0.38 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.90%. Toro’s dividend payout ratio is currently 37.91%.

Analysts Set New Price Targets

Several brokerages have commented on TTC. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Monday, February 24th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Raymond James reduced their price target on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.75.

Toro 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.