Nemes Rush Group LLC Has $56,000 Stake in The Toro Company (NYSE:TTC)

Nemes Rush Group LLC reduced its stake in shares of The Toro Company (NYSE:TTC) by 80.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 700 shares of the company’s stock after selling 2,860 shares during the quarter. Nemes Rush Group LLC’s holdings in Toro were worth $56,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Asset Planning Inc acquired a new stake in shares of Toro during the 4th quarter valued at $31,000. CIBC Private Wealth Group LLC boosted its position in 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 during the last quarter. Venturi Wealth Management LLC grew its stake in Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after purchasing an additional 362 shares in the last quarter. First Horizon Advisors Inc. increased its position in Toro by 54.6% in the 4th 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 raised its stake in shares of Toro by 14.7% during the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock worth $123,000 after purchasing an additional 198 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TTC has been the topic of a number of research reports. StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. DA Davidson cut their price target on shares of Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Robert W. Baird decreased their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Raymond James cut their target price on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Finally, Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Stock Up 1.8 %

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

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 2.06%. Toro’s payout ratio is 38.87%.

Toro announced that its board has authorized a stock repurchase plan 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 plans are typically a sign that the company’s management believes its shares are undervalued.

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.