22,208 Shares in The Toro Company (NYSE:TTC) Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC bought a new stake in shares of The Toro Company (NYSE:TTC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 22,208 shares of the company’s stock, valued at approximately $1,779,000.

Several other large investors have also modified their holdings of the business. Apollon Wealth Management LLC increased its holdings in Toro by 27.7% during the fourth quarter. Apollon Wealth Management LLC now owns 9,900 shares of the company’s stock valued at $793,000 after buying an additional 2,150 shares during the period. Financial Advocates Investment Management raised its position in shares of Toro by 35.5% in the 4th quarter. Financial Advocates Investment Management now owns 4,330 shares of the company’s stock worth $347,000 after acquiring an additional 1,134 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Toro by 36.1% during the 4th quarter. Bleakley Financial Group LLC now owns 10,052 shares of the company’s stock worth $805,000 after purchasing an additional 2,664 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its position in Toro by 59.9% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 3,973 shares of the company’s stock valued at $320,000 after purchasing an additional 1,489 shares in the last quarter. Finally, E. Ohman J or Asset Management AB grew its stake in Toro by 45.5% in the fourth quarter. E. Ohman J or Asset Management AB now owns 6,400 shares of the company’s stock valued at $513,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

Toro Stock Down 0.1 %

Shares of TTC stock opened at $80.08 on Tuesday. The stock’s fifty day moving average price is $83.01 and its 200 day moving average price is $85.17. 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 Toro Company has a 1-year low of $76.95 and a 1-year high of $100.93. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 19.97 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 the consensus estimate of $0.95. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, research analysts expect that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were issued a $0.38 dividend. 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 1.90%. This is a boost from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio (DPR) is currently 37.91%.

Toro declared that its board has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.