Bryce Point Capital LLC Makes New $692,000 Investment in The Toro Company (NYSE:TTC)

Bryce Point Capital LLC purchased a new position in The Toro Company (NYSE:TTC) in the fourth quarter, HoldingsChannel reports. The firm purchased 8,639 shares of the company’s stock, valued at approximately $692,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Planning Inc bought a new position in shares of Toro in the fourth quarter worth about $31,000. Venturi Wealth Management LLC boosted its holdings in shares of Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after purchasing an additional 362 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock valued at $43,000 after purchasing an additional 127 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock worth $65,000 after purchasing an additional 285 shares during the last quarter. Finally, PrairieView Partners LLC boosted its stake in Toro by 14.7% during 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 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 analysts have issued reports on the company. Robert W. Baird reduced their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. DA Davidson lowered their price target on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Raymond James dropped their price target on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Toro presently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Stock Up 1.8 %

Shares of NYSE TTC opened at $73.91 on Thursday. The Toro Company has a 52-week low of $71.23 and a 52-week high of $100.93. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 18.43 and a beta of 0.72. The stock has a 50 day moving average price of $78.34 and a 200 day moving average price of $81.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

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

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, March 31st. Toro’s payout ratio is 38.87%.

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.