New York Life Investment Management LLC Has $870,000 Position in The Toro Company (NYSE:TTC)

New York Life Investment Management LLC lowered its holdings in The Toro Company (NYSE:TTC) by 15.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,867 shares of the company’s stock after selling 1,916 shares during the quarter. New York Life Investment Management LLC’s holdings in Toro were worth $870,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TTC. Assenagon Asset Management S.A. grew its position in Toro by 13.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,251 shares of the company’s stock valued at $542,000 after purchasing an additional 723 shares during the period. abrdn plc boosted its holdings in Toro by 5.8% during the 3rd quarter. abrdn plc now owns 2,874 shares of the company’s stock worth $249,000 after acquiring an additional 157 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in Toro by 7.2% during the 3rd quarter. Financial Advocates Investment Management now owns 3,196 shares of the company’s stock worth $277,000 after acquiring an additional 214 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Toro during the 3rd quarter worth $666,000. Finally, Marks Group Wealth Management Inc boosted its holdings in Toro by 2.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 91,567 shares of the company’s stock worth $7,942,000 after acquiring an additional 2,425 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analysts Set New Price Targets

TTC has been the topic of a number of analyst reports. Northland Securities raised shares of 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 cut their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Finally, Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Toro currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.75.

Toro Trading Down 3.6 %

NYSE TTC opened at $77.30 on Tuesday. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 19.28 and a beta of 0.72. The Toro Company has a one year low of $76.95 and a one year 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. The business’s fifty day moving average is $81.45 and its 200-day moving average is $83.99.

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

Toro announced that its Board of Directors has initiated 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 generally a sign that the company’s board believes its stock is undervalued.

Toro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from Toro’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, December 23rd. Toro’s payout ratio is presently 37.91%.

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.