Edgestream Partners L.P. Acquires 9,015 Shares of The Toro Company (NYSE:TTC)

Edgestream Partners L.P. boosted its holdings in The Toro Company (NYSE:TTC) by 34.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,346 shares of the company’s stock after acquiring an additional 9,015 shares during the period. Edgestream Partners L.P.’s holdings in Toro were worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in Toro in the 4th quarter valued at $31,000. Venturi Wealth Management LLC raised its stake in Toro by 195.7% in the 4th 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. raised its stake in Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after acquiring an additional 285 shares during the period. PrairieView Partners LLC raised its stake in Toro by 14.7% in the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock valued at $123,000 after acquiring an additional 198 shares during the period. Finally, Eagle Bay Advisors LLC grew its holdings in 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 buying an additional 772 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Robert W. Baird decreased their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday. Northland Capmk raised 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 objective on the stock in a report on Monday, February 24th. Raymond James decreased their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Finally, StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.75.

Toro Stock Performance

TTC opened at $73.44 on Monday. The firm has a market cap of $7.39 billion, a P/E ratio of 18.31 and a beta of 0.70. The Toro Company has a 52-week low of $72.18 and a 52-week high of $100.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The business’s fifty day moving average is $80.94 and its 200-day moving average is $83.50.

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

Toro Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were issued a dividend of $0.38 per share. This is a positive change from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, December 23rd. Toro’s dividend payout ratio is 38.87%.

Toro announced that its board has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.