Edgestream Partners L.P. Has $2.83 Million Position in The Toro Company (NYSE:TTC)

Edgestream Partners L.P. raised its stake in shares of The Toro Company (NYSE:TTC) by 34.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,346 shares of the company’s stock after buying an additional 9,015 shares during the quarter. Edgestream Partners L.P.’s holdings in Toro were worth $2,831,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TTC. Allspring Global Investments Holdings LLC grew its position in shares of Toro by 996,664.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock valued at $39,410,000 after purchasing an additional 498,332 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Toro in the 4th quarter valued at approximately $36,561,000. Victory Capital Management Inc. grew its position in shares of Toro by 693.0% in the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company’s stock valued at $33,238,000 after purchasing an additional 362,634 shares during the period. Nuance Investments LLC acquired a new position in shares of Toro in the 3rd quarter valued at approximately $29,146,000. Finally, Worldquant Millennium Advisors LLC grew its position in shares of Toro by 71.2% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 217,739 shares of the company’s stock valued at $18,885,000 after purchasing an additional 90,538 shares during the period. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TTC has been the subject of several research analyst reports. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Monday, February 24th. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Raymond James reduced their price target on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Robert W. Baird reduced their price target on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday. Finally, StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a research report on Friday. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.75.

Toro Trading Down 1.0 %

NYSE:TTC opened at $73.44 on Monday. The Toro Company has a twelve month low of $72.18 and a twelve month high of $100.93. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $80.94 and a two-hundred day moving average price of $83.50. The company has a market cap of $7.39 billion, a P/E ratio of 18.31 and a beta of 0.70.

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

Toro announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio is currently 38.87%.

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.