Wealthfront Advisers LLC Buys New Stake in The Toro Company (NYSE:TTC)

Wealthfront Advisers LLC acquired a new stake in shares of The Toro Company (NYSE:TTC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 40,271 shares of the company's stock, valued at approximately $3,226,000.

Other hedge funds have also made changes to their positions in the company. PEAK6 Investments LLC bought a new position in Toro during the 3rd quarter valued at $1,248,000. Benjamin Edwards Inc. lifted its holdings in shares of Toro by 6,995.4% in the third 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 period. Eagle Asset Management Inc. bought a new position in Toro during the third quarter valued at about $1,261,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Toro by 5.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 200,456 shares of the company's stock worth $17,386,000 after acquiring an additional 9,998 shares during the period. Finally, Point72 DIFC Ltd raised its position in Toro by 101.6% in the third quarter. Point72 DIFC Ltd now owns 13,000 shares of the company's stock worth $1,127,000 after acquiring an additional 6,550 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. DA Davidson reduced their price objective on shares of Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. StockNews.com lowered shares of Toro from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target on the stock in a report on Monday, February 24th. Raymond James cut their price objective on Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. Finally, Robert W. Baird reduced their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $89.75.

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Toro Stock Up 0.2 %

TTC traded up $0.17 during trading on Monday, reaching $73.31. 1,037,940 shares of the stock traded hands, compared to its average volume of 908,445. The stock's 50-day simple moving average is $80.37 and its two-hundred day simple moving average is $82.92. The Toro Company has a fifty-two week low of $71.75 and a fifty-two week high of $100.93. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 18.28 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro (NYSE:TTC - Get Free Report) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. The company'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 firm posted $0.71 earnings per share. As a group, equities research analysts expect that The Toro Company will post 4.41 EPS for the current year.

Toro announced that its board has authorized a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board 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.