Wesbanco Bank Inc. Purchases 2,469 Shares of The Toro Company (NYSE:TTC)

Wesbanco Bank Inc. increased its position in shares of The Toro Company (NYSE:TTC) by 40.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,616 shares of the company’s stock after purchasing an additional 2,469 shares during the period. Wesbanco Bank Inc.’s holdings in Toro were worth $690,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TTC. UMB Bank n.a. lifted its position in shares of Toro by 112.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after acquiring an additional 333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Toro by 850.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after purchasing an additional 765 shares during the period. CWM LLC lifted its holdings 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. Blue Trust Inc. boosted its stake in Toro by 534.8% in the 3rd quarter. Blue Trust Inc. now owns 1,333 shares of the company’s stock worth $125,000 after purchasing an additional 1,123 shares during the period. Finally, V Square Quantitative Management LLC grew its holdings in Toro by 13.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,540 shares of the company’s stock valued at $134,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Price Performance

NYSE:TTC opened at $86.51 on Friday. The business’s 50-day moving average is $83.18 and its 200 day moving average is $86.13. The Toro Company has a 12 month low of $76.95 and a 12 month high of $100.93. The company has a market capitalization of $8.75 billion, a P/E ratio of 21.57 and a beta of 0.72. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

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

Toro declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Toro Increases Dividend

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

Analyst Ratings Changes

Separately, Raymond James lowered their target price 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.