Mutual of America Capital Management LLC Decreases Stock Position in The Toro Company (NYSE:TTC)

Mutual of America Capital Management LLC cut its position in The Toro Company (NYSE:TTC) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,206 shares of the company’s stock after selling 1,934 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Toro worth $4,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TTC. Pacer Advisors Inc. boosted its stake in Toro by 0.8% during the 4th quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock worth $1,225,000 after purchasing an additional 120 shares during the last quarter. Lindenwold Advisors INC lifted its stake in shares of Toro by 2.8% in the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock worth $400,000 after buying an additional 125 shares in the last quarter. Northwest Financial Advisors boosted its position in Toro by 2.0% during the fourth quarter. Northwest Financial Advisors now owns 6,945 shares of the company’s stock worth $556,000 after acquiring an additional 139 shares during the last quarter. Empowered Funds LLC grew its stake in 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 acquiring an additional 156 shares in the last quarter. Finally, abrdn plc raised its holdings in Toro by 5.8% in the 3rd quarter. abrdn plc now owns 2,874 shares of the company’s stock valued at $249,000 after acquiring an additional 157 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Stock Down 2.6 %

TTC stock opened at $75.44 on Wednesday. The Toro Company has a one year low of $74.51 and a one year high of $100.93. The firm has a market cap of $7.59 billion, a PE ratio of 18.81 and a beta of 0.72. The firm’s 50 day moving average price is $81.40 and its 200-day moving average price is $83.90. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

Toro (NYSE:TTC) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $1.08 billion for 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 revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, equities research analysts anticipate that The Toro Company will post 4.41 EPS for the current year.

Toro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were given a dividend of $0.38 per share. The ex-dividend date was Monday, December 23rd. This is a boost from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.01%. Toro’s dividend payout ratio (DPR) is currently 37.91%.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TTC. Raymond James lowered 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. Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Northland Securities raised Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a research note on Monday, February 24th. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.