Wealthfront Advisers LLC Makes New $3.23 Million Investment in The Toro Company (NYSE:TTC)

Wealthfront Advisers LLC acquired a new stake in The Toro Company (NYSE:TTC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,271 shares of the company’s stock, valued at approximately $3,226,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in Toro by 0.8% during the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock worth $1,225,000 after buying an additional 120 shares in the last quarter. Lindenwold Advisors INC boosted its stake in Toro by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock worth $400,000 after purchasing an additional 125 shares during the period. Northwest Financial Advisors grew its position in Toro by 2.0% during the 4th quarter. Northwest Financial Advisors now owns 6,945 shares of the company’s stock worth $556,000 after purchasing an additional 139 shares in the last quarter. Empowered Funds LLC raised 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 purchasing an additional 156 shares during the period. Finally, Savant Capital LLC lifted its holdings in shares of Toro by 5.0% in the fourth quarter. Savant Capital LLC now owns 3,293 shares of the company’s stock valued at $264,000 after purchasing an additional 158 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Stock Down 1.9 %

TTC opened at $71.87 on Friday. The company has a market capitalization of $7.17 billion, a PE ratio of 17.92 and a beta of 0.70. The business has a 50-day moving average of $80.51 and a 200-day moving average of $83.15. The Toro Company has a fifty-two week low of $71.75 and a fifty-two week high of $100.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro (NYSE:TTC) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro declared that its board has approved a stock buyback program on Tuesday, December 10th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

TTC has been the topic of a number of research analyst reports. DA Davidson lowered their price target on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday. 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. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Robert W. Baird lowered their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Toro has a consensus rating of “Moderate Buy” and an average target price of $89.75.

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.