Impact Capital Partners LLC Purchases New Holdings in The Toro Company (NYSE:TTC)

Impact Capital Partners LLC purchased a new stake in The Toro Company (NYSE:TTC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,889 shares of the company’s stock, valued at approximately $792,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTC. Farther Finance Advisors LLC lifted its holdings in Toro by 118.6% during the 4th quarter. Farther Finance Advisors LLC now owns 8,378 shares of the company’s stock worth $671,000 after buying an additional 4,546 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Toro by 8.8% during the 4th quarter. HighTower Advisors LLC now owns 9,191 shares of the company’s stock worth $736,000 after purchasing an additional 744 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of Toro during the 4th quarter worth approximately $3,226,000. Inspire Advisors LLC acquired a new stake in Toro in the 4th quarter valued at approximately $402,000. Finally, King Luther Capital Management Corp increased its position in Toro by 3.6% in the 4th quarter. King Luther Capital Management Corp now owns 1,043,833 shares of the company’s stock valued at $83,611,000 after acquiring an additional 36,750 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Stock Performance

Shares of Toro stock opened at $73.30 on Thursday. The stock has a market cap of $7.38 billion, a PE ratio of 18.28 and a beta of 0.70. The business has a fifty day simple moving average of $80.65 and a 200-day simple moving average of $83.23. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The Toro Company has a 12 month low of $72.18 and a 12 month high of $100.93.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 EPS 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 firm posted $0.71 earnings per share. Toro’s revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro announced that its Board of Directors has initiated a stock buyback 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. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Robert W. Baird lowered their target price on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Monday, February 24th. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Raymond James lowered 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, DA Davidson lowered their price target on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

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.