The Toro Company (NYSE:TTC) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its position in The Toro Company (NYSE:TTC) by 27.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,900 shares of the company’s stock after purchasing an additional 2,150 shares during the period. Apollon Wealth Management LLC’s holdings in Toro were worth $793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Financial Advocates Investment Management lifted its stake in shares of Toro by 35.5% in the 4th quarter. Financial Advocates Investment Management now owns 4,330 shares of the company’s stock valued at $347,000 after purchasing an additional 1,134 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Toro by 36.1% during the 4th quarter. Bleakley Financial Group LLC now owns 10,052 shares of the company’s stock worth $805,000 after acquiring an additional 2,664 shares in the last quarter. Robertson Stephens Wealth Management LLC lifted its position in Toro by 59.9% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 3,973 shares of the company’s stock worth $320,000 after acquiring an additional 1,489 shares in the last quarter. E. Ohman J or Asset Management AB lifted its position in Toro by 45.5% during the 4th quarter. E. Ohman J or Asset Management AB now owns 6,400 shares of the company’s stock worth $513,000 after acquiring an additional 2,000 shares in the last quarter. Finally, abrdn plc lifted its position in Toro by 12.0% during the 4th quarter. abrdn plc now owns 3,220 shares of the company’s stock worth $258,000 after acquiring an additional 346 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Stock Performance

Toro stock opened at $80.15 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The Toro Company has a one year low of $76.95 and a one year high of $100.93. The stock’s 50 day moving average price is $82.89 and its 200 day moving average price is $85.05. The firm has a market capitalization of $8.07 billion, a PE ratio of 19.99 and a beta of 0.72.

Toro (NYSE:TTC) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.71 EPS. Toro’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro announced that its board has initiated a stock 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. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Toro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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 an increase from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.90%. Toro’s payout ratio is currently 37.91%.

Analyst Ratings Changes

Separately, Raymond James reduced their price target on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $93.75.

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.