Virtu Financial LLC Takes $592,000 Position in The Toro Company (NYSE:TTC)

Virtu Financial LLC acquired a new position in The Toro Company (NYSE:TTC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,826 shares of the company’s stock, valued at approximately $592,000.

Other large investors also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in Toro by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 28,680 shares of the company’s stock worth $2,682,000 after purchasing an additional 110 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Toro by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company’s stock worth $4,405,000 after buying an additional 123 shares in the last quarter. Lindenwold Advisors INC boosted its position in shares of Toro by 2.8% during the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock worth $400,000 after acquiring an additional 125 shares during the last quarter. Toronto Dominion Bank grew its stake in Toro by 1.4% during the second quarter. Toronto Dominion Bank now owns 10,060 shares of the company’s stock valued at $941,000 after acquiring an additional 136 shares in the last quarter. Finally, CWM LLC increased its holdings in Toro by 15.5% in the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after acquiring an additional 143 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TTC shares. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Northland Securities reissued a “market perform” rating and set a $100.00 price target on shares of Toro in a research note on Friday, September 6th. DA Davidson decreased their price objective on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, Robert W. Baird lowered their target price on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $93.33.

Toro Stock Performance

NYSE TTC opened at $88.32 on Friday. The business’s 50 day moving average price is $84.18 and its 200-day moving average price is $87.96. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. The company has a market cap of $9.06 billion, a P/E ratio of 23.18 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94.

Toro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 23rd will be given a dividend of $0.38 per share. This is a boost from Toro’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $1.52 dividend on an annualized basis and a yield of 1.72%. Toro’s payout ratio is 37.80%.

Toro declared that its board has approved a share repurchase program on Tuesday, December 10th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.