The Toro Company (NYSE:TTC) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its holdings in shares of The Toro Company (NYSE:TTC) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,873 shares of the company’s stock after selling 250 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Toro were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TTC. Lindenwold Advisors INC lifted its holdings in shares of Toro by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock valued at $400,000 after buying an additional 125 shares during the period. Toronto Dominion Bank lifted its holdings in Toro by 1.4% in the second quarter. Toronto Dominion Bank now owns 10,060 shares of the company’s stock valued at $941,000 after acquiring an additional 136 shares during the period. CWM LLC boosted its position in Toro by 15.5% in the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after purchasing an additional 143 shares in the last quarter. Taylor Frigon Capital Management LLC grew its stake in shares of Toro by 1.0% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 15,201 shares of the company’s stock worth $1,318,000 after purchasing an additional 146 shares during the period. Finally, Empowered Funds LLC increased its holdings in shares of Toro by 7.1% during the 3rd quarter. Empowered Funds LLC now owns 2,366 shares of the company’s stock valued at $205,000 after purchasing an additional 156 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Trading Up 2.8 %

Shares of TTC stock opened at $86.51 on Friday. The stock has a 50 day simple moving average of $83.18 and a 200-day simple moving average of $86.13. The Toro Company has a 1-year low of $76.95 and a 1-year high of $100.93. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 21.57 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro (NYSE:TTC) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $0.71 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Monday, December 23rd. This is an increase from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio (DPR) is 37.91%.

Toro declared that its board has approved a stock buyback plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered their price target on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Toro currently has a consensus rating of “Hold” and a consensus price target of $93.75.

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.