Harbour Investments Inc. Raises Stock Holdings in The Toro Company (NYSE:TTC)

Harbour Investments Inc. boosted its holdings in The Toro Company (NYSE:TTC) by 75.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,457 shares of the company’s stock after buying an additional 1,057 shares during the quarter. Harbour Investments Inc.’s holdings in Toro were worth $197,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Asset Planning Inc purchased a new position in Toro in the 4th quarter worth about $31,000. Venturi Wealth Management LLC increased its position in shares of Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after purchasing an additional 362 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the last quarter. PrairieView Partners LLC increased its position in shares of Toro by 14.7% during the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock valued at $123,000 after purchasing an additional 198 shares during the last quarter. Finally, Eagle Bay Advisors LLC increased its position in shares of Toro by 87.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock valued at $133,000 after purchasing an additional 772 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Trading Up 0.0 %

TTC stock opened at $73.09 on Friday. The Toro Company has a 1-year low of $71.23 and a 1-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 company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 18.23 and a beta of 0.70. The business has a 50 day simple moving average of $79.77 and a two-hundred day simple moving average of $82.31.

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. Toro had a return on equity of 27.25% and a net margin of 9.14%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts anticipate that The Toro Company will post 4.41 EPS for the current fiscal year.

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

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.52 annualized dividend and a yield of 2.08%. Toro’s payout ratio is 38.87%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Robert W. Baird reduced their target price on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Monday, February 24th. Finally, Raymond James reduced their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Toro currently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

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.