Versor Investments LP Sells 15,393 Shares of The Toro Company (NYSE:TTC)

Versor Investments LP lessened its holdings in shares of The Toro Company (NYSE:TTC) by 65.4% during the 4th quarter, HoldingsChannel reports. The firm owned 8,147 shares of the company’s stock after selling 15,393 shares during the period. Versor Investments LP’s holdings in Toro were worth $653,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TTC. Allspring Global Investments Holdings LLC lifted its holdings in shares of Toro by 996,664.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock valued at $39,410,000 after purchasing an additional 498,332 shares in the last quarter. Nuance Investments LLC acquired a new stake in Toro in the 3rd quarter valued at approximately $29,146,000. Worldquant Millennium Advisors LLC raised its position in Toro by 71.2% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 217,739 shares of the company’s stock valued at $18,885,000 after buying an additional 90,538 shares during the last quarter. KBC Group NV raised its position in Toro by 945.5% in the 4th quarter. KBC Group NV now owns 82,111 shares of the company’s stock valued at $6,577,000 after buying an additional 74,257 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in Toro by 6,995.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 74,005 shares of the company’s stock valued at $6,418,000 after buying an additional 72,962 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Stock Up 0.2 %

NYSE:TTC opened at $80.06 on Friday. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 19.96 and a beta of 0.72. The Toro Company has a twelve month low of $76.95 and a twelve month high of $100.93. The stock’s 50 day moving average price is $81.48 and its two-hundred day moving average price is $84.10. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The firm 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%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 EPS. Equities research analysts expect that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Increases Dividend

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

Toro declared that its board has authorized a share repurchase 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 generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

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

Toro 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.