Andra AP fonden Buys 32,300 Shares of The Toro Company (NYSE:TTC)

Andra AP fonden boosted its position in The Toro Company (NYSE:TTC) by 60.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,500 shares of the company’s stock after acquiring an additional 32,300 shares during the quarter. Andra AP fonden’s holdings in Toro were worth $6,849,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TTC. Allspring Global Investments Holdings LLC increased its position in shares of Toro by 996,664.0% during 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 last quarter. Raymond James Financial Inc. bought a new position in Toro during the fourth quarter valued at approximately $36,561,000. Victory Capital Management Inc. raised its stake in shares of Toro by 693.0% during the fourth quarter. Victory Capital Management Inc. now owns 414,961 shares of the company’s stock worth $33,238,000 after acquiring an additional 362,634 shares in the last quarter. Nuance Investments LLC bought a new stake in shares of Toro in the 3rd quarter worth approximately $29,146,000. Finally, Worldquant Millennium Advisors LLC lifted its holdings 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 worth $18,885,000 after acquiring an additional 90,538 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TTC. Robert W. Baird decreased their target price on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James reduced their price target on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Finally, 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. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.75.

Toro Stock Performance

Toro stock opened at $73.44 on Friday. 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 firm has a market cap of $7.39 billion, a P/E ratio of 18.31 and a beta of 0.70. The Toro Company has a 1-year low of $72.18 and a 1-year high of $100.93. The firm has a 50-day moving average of $80.94 and a 200-day moving average of $83.55.

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

Toro Increases Dividend

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

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