The Toro Company (NYSE:TTC) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its position in The Toro Company (NYSE:TTC) by 195.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 547 shares of the company’s stock after purchasing an additional 362 shares during the quarter. Venturi Wealth Management LLC’s holdings in Toro were worth $44,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Toro by 534.8% in the 3rd quarter. Blue Trust Inc. now owns 1,333 shares of the company’s stock valued at $125,000 after buying an additional 1,123 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Toro by 13.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,251 shares of the company’s stock valued at $542,000 after buying an additional 723 shares in the last quarter. Forsta AP Fonden grew its holdings in Toro by 9.0% in the 3rd quarter. Forsta AP Fonden now owns 23,100 shares of the company’s stock valued at $2,003,000 after buying an additional 1,900 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Toro by 4.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 18,646 shares of the company’s stock valued at $1,616,000 after buying an additional 815 shares in the last quarter. Finally, abrdn plc grew its holdings in Toro by 5.8% in the 3rd quarter. abrdn plc now owns 2,874 shares of the company’s stock valued at $249,000 after buying an additional 157 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Raymond James lowered their price target on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Monday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Toro presently has a consensus rating of “Moderate Buy” and an average price target of $93.75.

Toro Price Performance

Shares of NYSE TTC opened at $81.27 on Wednesday. The stock’s 50-day simple moving average is $81.53 and its 200-day simple moving average is $84.15. The firm has a market capitalization of $8.18 billion, a PE ratio of 20.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The Toro Company has a fifty-two week low of $76.95 and a fifty-two week high of $100.93.

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

Toro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 23rd were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, December 23rd. 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 dividend yield of 1.87%. Toro’s payout ratio is 37.91%.

Toro announced that its board has authorized a share buyback plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are 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.