US Bancorp DE Increases Stock Position in The Toro Company (NYSE:TTC)

US Bancorp DE grew its holdings in shares of The Toro Company (NYSE:TTC) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 799,385 shares of the company’s stock after purchasing an additional 24,596 shares during the period. US Bancorp DE’s holdings in Toro were worth $64,031,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Asset Planning Inc purchased a new stake in shares of Toro in the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC lifted its holdings 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 acquiring an additional 362 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Toro by 54.6% during 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 in the last quarter. PrairieView Partners LLC grew 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 during the period. Finally, Eagle Bay Advisors LLC increased its holdings in shares of Toro by 87.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock valued at $133,000 after purchasing an additional 772 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Northland Securities raised Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Monday, February 24th. Finally, Raymond James dropped their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.75.

Toro Stock Performance

Shares of TTC opened at $80.06 on Friday. The Toro Company has a 12-month low of $76.95 and a 12-month high of $100.93. The stock has a market cap of $8.06 billion, a P/E ratio of 19.96 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. The company has a 50-day moving average of $81.45 and a two-hundred day moving average of $84.04.

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. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. As a group, research analysts predict that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Toro Increases Dividend

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

About Toro

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.