The Toro Company (NYSE:TTC) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of The Toro Company (NYSE:TTC) by 68.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 62,762 shares of the company’s stock after buying an additional 25,561 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Toro were worth $5,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TTC. Allspring Global Investments Holdings LLC increased its position in Toro by 996,664.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock worth $39,410,000 after purchasing an additional 498,332 shares during the period. Raymond James Financial Inc. acquired a new position in Toro during the 4th quarter worth approximately $36,561,000. Victory Capital Management Inc. increased its position in Toro by 693.0% during the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company’s stock worth $33,238,000 after purchasing an additional 362,634 shares during the period. Nuance Investments LLC acquired a new position in Toro during the 3rd quarter worth approximately $29,146,000. Finally, Amundi increased its position in Toro by 30.3% during the 4th quarter. Amundi now owns 1,121,116 shares of the company’s stock worth $89,701,000 after purchasing an additional 260,746 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Trading Up 1.8 %

Shares of Toro stock opened at $73.19 on Friday. The Toro Company has a fifty-two week low of $71.75 and a fifty-two week high of $100.93. The firm has a market cap of $7.31 billion, a PE ratio of 18.25 and a beta of 0.70. The business’s fifty day moving average is $80.37 and its two-hundred day moving average is $83.03. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

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

Toro declared that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Monday, February 24th. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. DA Davidson reduced their target price on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Raymond James reduced their target price on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

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.