Parallel Advisors LLC Decreases Stake in The Toro Company (NYSE:TTC)

Parallel Advisors LLC lessened its position in shares of The Toro Company (NYSE:TTC) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,623 shares of the company’s stock after selling 1,477 shares during the quarter. Parallel Advisors LLC’s holdings in Toro were worth $2,853,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Toro by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock worth $169,639,000 after purchasing an additional 29,105 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Toro by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock worth $95,123,000 after buying an additional 60,068 shares during the last quarter. Amundi raised its position in shares of Toro by 30.3% during the 4th quarter. Amundi now owns 1,121,116 shares of the company’s stock valued at $89,701,000 after buying an additional 260,746 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of 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 last quarter. Finally, US Bancorp DE grew its position in Toro by 3.2% in the fourth quarter. US Bancorp DE now owns 799,385 shares of the company’s stock worth $64,031,000 after acquiring an additional 24,596 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Trading Up 0.2 %

NYSE TTC opened at $73.31 on Tuesday. The Toro Company has a 12 month low of $71.03 and a 12 month high of $100.93. The company’s 50-day moving average price is $80.23 and its 200-day moving average price is $82.79. The stock has a market cap of $7.32 billion, a PE ratio of 18.28 and a beta of 0.70. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. Equities research analysts forecast that The Toro Company will post 4.41 earnings per share for the current year.

Toro declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Raymond James lowered their price target on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. DA Davidson reduced their target price on shares of Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.75.

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.