Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 234 Shares of The Toro Company (NYSE:TTC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in shares of The Toro Company (NYSE:TTC) by 1.0% in the fourth quarter, Holdings Channel reports. The fund owned 22,663 shares of the company’s stock after selling 234 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Toro were worth $1,815,000 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 business. Empowered Funds LLC increased its stake in Toro by 7.1% during the third quarter. Empowered Funds LLC now owns 2,366 shares of the company’s stock worth $205,000 after acquiring an additional 156 shares during the last quarter. Quest Partners LLC raised its holdings in Toro by 62,750.0% during the 3rd quarter. Quest Partners LLC now owns 3,771 shares of the company’s stock valued at $327,000 after buying an additional 3,765 shares during the period. PNC Financial Services Group Inc. increased its position in Toro by 2.5% during the third quarter. PNC Financial Services Group Inc. now owns 19,492 shares of the company’s stock valued at $1,691,000 after acquiring an additional 478 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Toro in the third quarter valued at $1,261,000. Finally, Citigroup Inc. lifted its holdings in shares of Toro by 27.1% in the 3rd quarter. Citigroup Inc. now owns 69,580 shares of the company’s stock worth $6,035,000 after acquiring an additional 14,826 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TTC. StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Raymond James dropped their price target on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research note on Monday, February 24th. Robert W. Baird reduced their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, DA Davidson dropped their target price on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Toro presently has an average rating of “Moderate Buy” and an average target price of $89.75.

Toro Trading Up 0.2 %

NYSE:TTC opened at $74.55 on Wednesday. The firm has a 50 day moving average of $79.50 and a 200 day moving average of $82.14. 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 Toro Company has a 52 week low of $71.23 and a 52 week high of $100.93. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 18.59 and a beta of 0.70.

Toro announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Toro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Monday, March 31st. This represents a $1.52 annualized dividend and a yield of 2.04%. Toro’s dividend payout ratio (DPR) is 38.87%.

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.