3,535 Shares in The Toro Company (NYSE:TTC) Acquired by HB Wealth Management LLC

HB Wealth Management LLC bought a new position in shares of The Toro Company (NYSE:TTC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,535 shares of the company's stock, valued at approximately $283,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in Toro by 2.1% in the 2nd quarter. American Century Companies Inc. now owns 25,759 shares of the company's stock valued at $2,409,000 after acquiring an additional 522 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Toro during the second quarter worth $608,000. Canada Pension Plan Investment Board bought a new position in Toro in the second quarter valued at $159,000. AE Wealth Management LLC lifted its position in Toro by 12.6% during the 2nd quarter. AE Wealth Management LLC now owns 2,493 shares of the company's stock worth $233,000 after buying an additional 279 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Toro by 38.2% during the 2nd quarter. Bank of Montreal Can now owns 77,649 shares of the company's stock worth $7,272,000 after buying an additional 21,454 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Wall Street Analyst Weigh In

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

Toro Stock Performance

Shares of TTC stock traded down $0.54 during midday trading on Friday, hitting $86.01. 746,489 shares of the company were exchanged, compared to its average volume of 606,617. The firm has a market capitalization of $8.70 billion, a P/E ratio of 21.45 and a beta of 0.72. 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 52 week low of $76.95 and a 52 week high of $100.93. The firm's 50 day moving average price is $83.37 and its two-hundred day moving average price is $86.09.

Toro (NYSE:TTC - Get Free Report) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, equities research analysts anticipate that The Toro Company will post 4.41 earnings per share for the current year.

Toro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were issued a dividend of $0.38 per share. The ex-dividend date was Monday, December 23rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Toro's previous quarterly dividend of $0.36. Toro's dividend payout ratio (DPR) is currently 37.91%.

Toro declared that its board has approved a share buyback program on Tuesday, December 10th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors 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.