Charles Schwab Investment Management Inc. Sells 1,486 Shares of The Toro Company (NYSE:TTC)

Charles Schwab Investment Management Inc. lowered its stake in shares of The Toro Company (NYSE:TTC) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,260 shares of the company’s stock after selling 1,486 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.65% of Toro worth $52,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in TTC. Allspring Global Investments Holdings LLC boosted its position in Toro by 996,664.0% during the fourth 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 in the last quarter. Nuance Investments LLC bought a new stake in Toro during the third quarter valued at about $29,146,000. Worldquant Millennium Advisors LLC boosted its position in Toro by 71.2% during the third quarter. Worldquant Millennium Advisors LLC now owns 217,739 shares of the company’s stock valued at $18,885,000 after purchasing an additional 90,538 shares in the last quarter. KBC Group NV boosted its position in Toro by 945.5% during the fourth quarter. KBC Group NV now owns 82,111 shares of the company’s stock valued at $6,577,000 after purchasing an additional 74,257 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its position in Toro by 6,995.4% during the third quarter. Benjamin Edwards Inc. now owns 74,005 shares of the company’s stock valued at $6,418,000 after purchasing an additional 72,962 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Trading Down 1.9 %

Toro stock opened at $71.87 on Friday. 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 52 week low of $71.75 and a 52 week high of $100.93. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 17.92 and a beta of 0.70. The stock has a 50-day moving average price of $80.51 and a 200 day moving average price of $83.15.

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

Toro declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

TTC has been the topic of a number of recent research reports. DA Davidson dropped their price objective on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday. Robert W. Baird lowered their price target on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Raymond James decreased their target price on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Finally, Northland Securities raised Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Monday, February 24th. Three 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.