The Toro Company (NYSE:TTC) Holdings Trimmed by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its position in shares of The Toro Company (NYSE:TTC) by 2.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 89,598 shares of the company’s stock after selling 1,969 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Toro were worth $7,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TTC. Nuance Investments LLC acquired a new position in shares of Toro in the 3rd quarter worth approximately $29,146,000. Worldquant Millennium Advisors LLC boosted 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. KBC Group NV increased its stake in Toro by 945.5% in the 4th quarter. KBC Group NV now owns 82,111 shares of the company’s stock worth $6,577,000 after purchasing an additional 74,257 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Toro by 6,995.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 74,005 shares of the company’s stock worth $6,418,000 after buying an additional 72,962 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in Toro by 31.5% during the third quarter. Brown Brothers Harriman & Co. now owns 298,150 shares of the company’s stock valued at $25,859,000 after buying an additional 71,431 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Stock Up 0.1 %

NYSE:TTC opened at $80.15 on Wednesday. The Toro Company has a 1-year low of $76.95 and a 1-year high of $100.93. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 19.99 and a beta of 0.72. 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 business’s fifty day moving average price is $82.89 and its 200 day moving average price is $85.05.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. On average, sell-side analysts forecast that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro declared that its board has authorized a share buyback program on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Toro Increases Dividend

The business also recently announced 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 represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio (DPR) is 37.91%.

Wall Street Analysts Forecast Growth

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