The Toro Company (NYSE:TTC) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its position in The Toro Company (NYSE:TTC) by 111.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,945 shares of the company’s stock after purchasing an additional 27,376 shares during the period. Quantbot Technologies LP owned about 0.05% of Toro worth $4,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Planning Inc purchased a new stake in shares of Toro during the 4th quarter worth about $31,000. Venturi Wealth Management LLC boosted its position in Toro by 195.7% during the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after purchasing an additional 362 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the period. PrairieView Partners LLC increased its position in shares of Toro by 14.7% in the fourth quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock valued at $123,000 after buying an additional 198 shares in the last quarter. Finally, Eagle Bay Advisors LLC lifted its position in shares of Toro by 87.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock valued at $133,000 after buying an additional 772 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analyst Ratings Changes

TTC has been the subject of a number of research analyst reports. Raymond James reduced their price objective on shares of 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 lowered their price objective on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Robert W. Baird dropped their price target on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

Toro Price Performance

NYSE:TTC opened at $73.19 on Friday. The Toro Company has a one year low of $71.75 and a one year high of $100.93. The stock has a market cap of $7.31 billion, a PE ratio of 18.25 and a beta of 0.70. 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 stock has a 50 day moving average price of $80.37 and a 200 day moving average price of $83.03.

Toro (NYSE:TTC) last issued its 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 business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $0.71 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro announced that its board has approved 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 buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.