40,271 Shares in The Toro Company (NYSE:TTC) Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC purchased a new position in The Toro Company (NYSE:TTC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 40,271 shares of the company’s stock, valued at approximately $3,226,000.

Other large investors also recently bought and sold shares of the company. Asset Planning Inc purchased a new position in shares of Toro in the fourth quarter valued at $31,000. Venturi Wealth Management LLC lifted its holdings in Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after buying an additional 362 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock worth $65,000 after buying an additional 285 shares in the last quarter. PrairieView Partners LLC boosted its position in Toro by 14.7% in the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock valued at $123,000 after buying an additional 198 shares during the last quarter. Finally, Eagle Bay Advisors LLC grew its stake in shares of Toro by 87.2% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Price Performance

Shares of TTC opened at $71.87 on Friday. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 17.92 and a beta of 0.70. The stock has a 50 day moving average of $80.51 and a 200-day moving average of $83.15. 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 Toro Company has a 52 week low of $71.75 and a 52 week high of $100.93.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $1.08 billion during 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%. Toro’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, analysts forecast that The Toro Company will post 4.41 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DA Davidson cut their price target on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday. Raymond James cut their target price on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Robert W. Baird reduced their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company 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.