The Toro Company (NYSE:TTC) Shares Bought by D.B. Root & Company LLC

D.B. Root & Company LLC grew its stake in shares of The Toro Company (NYSE:TTC) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,519 shares of the company’s stock after acquiring an additional 438 shares during the period. D.B. Root & Company LLC’s holdings in Toro were worth $522,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lindenwold Advisors INC increased its holdings in Toro by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock valued at $400,000 after acquiring an additional 125 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Toro by 1.4% in the second quarter. Toronto Dominion Bank now owns 10,060 shares of the company’s stock valued at $941,000 after purchasing an additional 136 shares during the last quarter. CWM LLC increased its stake in shares of Toro by 15.5% during the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after purchasing an additional 143 shares in the last quarter. Taylor Frigon Capital Management LLC raised its position in shares of Toro by 1.0% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 15,201 shares of the company’s stock worth $1,318,000 after purchasing an additional 146 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Toro by 7.1% in the 3rd quarter. Empowered Funds LLC now owns 2,366 shares of the company’s stock valued at $205,000 after buying an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Trading Down 0.4 %

NYSE:TTC opened at $84.16 on Thursday. 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 $83.18 and its two-hundred day moving average is $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. The firm has a market capitalization of $8.52 billion, a PE ratio of 20.99 and a beta of 0.72.

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

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

Toro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Toro’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, December 23rd. Toro’s dividend payout ratio is presently 37.91%.

Wall Street Analyst Weigh In

Separately, Raymond James lowered their price target on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $93.75.

About Toro

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.