Klein Pavlis & Peasley Financial Inc. Sells 2,928 Shares of The Toro Company (NYSE:TTC)

Klein Pavlis & Peasley Financial Inc. lessened its position in shares of The Toro Company (NYSE:TTC) by 37.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,951 shares of the company’s stock after selling 2,928 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in Toro were worth $397,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TTC. Financial Advocates Investment Management increased its position in shares of Toro by 35.5% during the fourth quarter. Financial Advocates Investment Management now owns 4,330 shares of the company’s stock worth $347,000 after purchasing an additional 1,134 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Toro by 36.1% during the 4th quarter. Bleakley Financial Group LLC now owns 10,052 shares of the company’s stock worth $805,000 after buying an additional 2,664 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its position in Toro by 59.9% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 3,973 shares of the company’s stock valued at $320,000 after buying an additional 1,489 shares in the last quarter. E. Ohman J or Asset Management AB raised its stake in Toro by 45.5% in the fourth quarter. E. Ohman J or Asset Management AB now owns 6,400 shares of the company’s stock valued at $513,000 after buying an additional 2,000 shares during the last quarter. Finally, abrdn plc boosted its holdings in Toro by 12.0% in the fourth quarter. abrdn plc now owns 3,220 shares of the company’s stock worth $258,000 after acquiring an additional 346 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James cut their target price on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $93.75.

Toro Stock Down 0.8 %

Toro stock opened at $80.71 on Thursday. 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 firm has a market cap of $8.17 billion, a price-to-earnings ratio of 20.13 and a beta of 0.72. The business’s 50-day moving average price is $83.28 and its 200 day moving average price is $85.46. The Toro Company has a 52 week low of $76.95 and a 52 week high of $100.93.

Toro (NYSE:TTC) last issued 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the business posted $0.71 earnings per share. Toro’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Toro Company will post 4.41 earnings per share for the current year.

Toro announced that its board has approved 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 repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Toro Increases Dividend

The business 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 was Monday, December 23rd. This is a positive change from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 1.88%. Toro’s dividend payout ratio (DPR) is currently 37.91%.

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.