Lindenwold Advisors INC Reduces Stock Holdings in The Toro Company (NYSE:TTC)

Lindenwold Advisors INC decreased its stake in The Toro Company (NYSE:TTC) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,448 shares of the company’s stock after selling 164 shares during the quarter. Lindenwold Advisors INC’s holdings in Toro were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Xponance Inc. boosted its holdings in shares of Toro by 8.6% in the 4th quarter. Xponance Inc. now owns 17,650 shares of the company’s stock worth $1,414,000 after purchasing an additional 1,398 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Toro by 75.5% in the 4th quarter. Harbour Investments Inc. now owns 2,457 shares of the company’s stock worth $197,000 after purchasing an additional 1,057 shares during the period. Corient Private Wealth LLC purchased a new position in shares of Toro in the 4th quarter worth approximately $271,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Toro by 17.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,878 shares of the company’s stock valued at $871,000 after acquiring an additional 1,654 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in Toro by 20.7% during the 4th quarter. Natixis Advisors LLC now owns 24,840 shares of the company’s stock valued at $1,990,000 after acquiring an additional 4,252 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

TTC has been the subject of a number of recent analyst reports. Robert W. Baird dropped their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Raymond James dropped their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a report on Tuesday. 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 report on Monday, February 24th. Finally, Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.75.

Toro Price Performance

Shares of TTC stock opened at $72.80 on Wednesday. The Toro Company has a twelve month low of $71.75 and a twelve month high of $100.93. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 18.16 and a beta of 0.70. The stock has a fifty day simple moving average of $80.12 and a two-hundred day simple moving average of $82.65. 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 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 period in the prior year, the business earned $0.71 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts predict that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.09%. Toro’s dividend payout ratio is 38.87%.

Toro declared 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 repurchase shares of its stock through open market purchases. Shares repurchase programs are often 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.