Oregon Public Employees Retirement Fund Sells 300 Shares of The Toro Company (NYSE:TTC)

Oregon Public Employees Retirement Fund cut its position in shares of The Toro Company (NYSE:TTC) by 1.4% during the 4th quarter, HoldingsChannel reports. The firm owned 20,882 shares of the company’s stock after selling 300 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Toro were worth $1,673,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TTC. Assenagon Asset Management S.A. boosted its position in shares of Toro by 13.1% during the third quarter. Assenagon Asset Management S.A. now owns 6,251 shares of the company’s stock valued at $542,000 after purchasing an additional 723 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Toro by 4.6% during the third quarter. State of Alaska Department of Revenue now owns 18,646 shares of the company’s stock valued at $1,616,000 after purchasing an additional 815 shares in the last quarter. abrdn plc boosted its holdings in Toro by 5.8% in the third quarter. abrdn plc now owns 2,874 shares of the company’s stock worth $249,000 after acquiring an additional 157 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in Toro by 7.2% in the third quarter. Financial Advocates Investment Management now owns 3,196 shares of the company’s stock worth $277,000 after acquiring an additional 214 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Toro in the third quarter worth $666,000. 87.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on TTC shares. Northland Securities raised Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a report on Monday, February 24th. Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Finally, Raymond James dropped 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. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.75.

Toro Stock Up 0.2 %

TTC stock opened at $80.06 on Friday. The Toro Company has a 1-year low of $76.95 and a 1-year high of $100.93. The business has a fifty day moving average price of $81.48 and a 200-day moving average price of $84.10. 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 stock has a market capitalization of $8.06 billion, a P/E ratio of 19.96 and a beta of 0.72.

Toro (NYSE:TTC) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share 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 firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 23rd were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Monday, December 23rd. This is a boost from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio is 37.91%.

Toro announced that its board has approved a share repurchase plan on Tuesday, December 10th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board 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.