6,058 Shares in The Toro Company (NYSE:TTC) Bought by Aigen Investment Management LP

Aigen Investment Management LP bought a new position in shares of The Toro Company (NYSE:TTC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,058 shares of the company's stock, valued at approximately $485,000.

A number of other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp grew its position in Toro by 12.2% during the fourth quarter. M&T Bank Corp now owns 9,817 shares of the company's stock worth $786,000 after buying an additional 1,070 shares in the last quarter. Atria Investments Inc boosted its holdings in Toro by 30.6% during the fourth quarter. Atria Investments Inc now owns 29,687 shares of the company's stock valued at $2,378,000 after purchasing an additional 6,951 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Toro by 693.0% during the fourth quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock valued at $33,238,000 after purchasing an additional 362,634 shares in the last quarter. Keybank National Association OH boosted its holdings in Toro by 8.7% during the fourth quarter. Keybank National Association OH now owns 3,630 shares of the company's stock valued at $291,000 after purchasing an additional 292 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Toro by 1,023.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the company's stock valued at $137,000 after purchasing an additional 1,555 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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Toro Trading Down 1.0 %

TTC stock traded down $0.76 during trading on Friday, hitting $73.44. The company had a trading volume of 2,111,966 shares, compared to its average volume of 900,039. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $80.94 and a 200-day moving average price of $83.55. The Toro Company has a 12 month low of $72.18 and a 12 month high of $100.93. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 18.31 and a beta of 0.70.

Toro (NYSE:TTC - Get Free Report) last posted its quarterly earnings data 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 net margin of 9.14% and a return on equity of 27.25%. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the company posted $0.71 EPS. Toro's revenue was up 9.4% on a year-over-year basis. As a group, analysts predict that The Toro Company will post 4.41 earnings per share for the current year.

Toro announced that its board has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Toro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were given a dividend of $0.38 per share. This is a boost from Toro's previous quarterly dividend of $0.36. The ex-dividend date was Monday, December 23rd. This represents a $1.52 annualized dividend and a dividend yield of 2.07%. Toro's payout ratio is presently 38.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Toro from a "buy" rating to a "hold" rating in a report on Friday. Raymond James decreased 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. Robert W. Baird reduced their target price on Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday. Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price on the stock in a report on Monday, February 24th. Finally, Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Toro presently has an average rating of "Moderate Buy" and an average target price of $91.75.

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.