The Toro Company (NYSE:TTC) Stock Holdings Increased by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC lifted its position in The Toro Company (NYSE:TTC) by 87.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,657 shares of the company’s stock after acquiring an additional 772 shares during the period. Eagle Bay Advisors LLC’s holdings in Toro were worth $133,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its position in shares of Toro by 112.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after acquiring an additional 333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Toro by 850.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock worth $74,000 after purchasing an additional 765 shares during the last quarter. CWM LLC increased its stake in shares of Toro by 15.5% during the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after purchasing an additional 143 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Toro by 534.8% during the 3rd quarter. Blue Trust Inc. now owns 1,333 shares of the company’s stock worth $125,000 after purchasing an additional 1,123 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Toro by 13.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,540 shares of the company’s stock worth $134,000 after buying an additional 183 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Toro Stock Performance

Toro stock traded up $1.53 during mid-day trading on Monday, reaching $78.93. The company had a trading volume of 232,112 shares, compared to its average volume of 699,203. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The Toro Company has a 52 week low of $76.95 and a 52 week high of $100.93. The company has a 50 day moving average of $83.40 and a 200-day moving average of $86.55. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 20.72 and a beta of 0.72.

Toro (NYSE:TTC) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. Toro had a net margin of 8.89% and a return on equity of 25.94%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 23rd will be given a dividend of $0.38 per share. The ex-dividend date is Monday, December 23rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio (DPR) is 37.91%.

Toro announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Toro Company 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.