The Toro Company (NYSE:TTC) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in shares of The Toro Company (NYSE:TTC) by 22.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,400 shares of the company’s stock after selling 681 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Toro were worth $209,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its stake in Toro by 27.8% during the third quarter. Franklin Resources Inc. now owns 47,912 shares of the company’s stock worth $3,989,000 after buying an additional 10,409 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Toro by 79.2% during the 3rd quarter. Tidal Investments LLC now owns 17,646 shares of the company’s stock valued at $1,530,000 after acquiring an additional 7,798 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Toro by 23.8% in the third quarter. Sanctuary Advisors LLC now owns 17,245 shares of the company’s stock valued at $1,468,000 after purchasing an additional 3,316 shares during the period. SkyView Investment Advisors LLC raised its stake in Toro by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 10,168 shares of the company’s stock worth $882,000 after purchasing an additional 298 shares during the period. Finally, Virtu Financial LLC acquired a new position in Toro in the 3rd quarter valued at about $592,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TTC. DA Davidson cut their price target on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Raymond James cut their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday. Northland Securities reaffirmed a “market perform” rating and issued a $100.00 target price on shares of Toro in a research report on Friday, September 6th. Robert W. Baird dropped their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $93.75.

Toro Stock Up 0.5 %

Shares of TTC opened at $81.48 on Friday. The company’s 50-day simple moving average is $84.13 and its 200-day simple moving average is $88.09. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The Toro Company has a 1 year low of $77.15 and a 1 year high of $100.93. The stock has a market capitalization of $8.36 billion, a PE ratio of 21.39 and a beta of 0.70.

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 analysts’ consensus estimates of $0.95. Toro had a net margin of 8.89% and a return on equity of 25.94%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business earned $0.71 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts forecast that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 23rd will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 23rd. This is a boost from Toro’s previous quarterly dividend of $0.36. Toro’s payout ratio is 37.91%.

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