AMG National Trust Bank Invests $1.58 Million in The Toro Company (NYSE:TTC)

AMG National Trust Bank purchased a new stake in shares of The Toro Company (NYSE:TTC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,690 shares of the company's stock, valued at approximately $1,579,000.

A number of other large investors also recently bought and sold shares of the stock. Asset Planning Inc acquired a new stake in shares of Toro during the 4th quarter worth approximately $31,000. Venturi Wealth Management LLC boosted its holdings in Toro by 195.7% during the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock worth $44,000 after buying an additional 362 shares in the last quarter. First Horizon Advisors Inc. grew its position in Toro by 54.6% during the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after buying an additional 285 shares during the period. PrairieView Partners LLC increased its holdings in Toro by 14.7% in the fourth quarter. PrairieView Partners LLC now owns 1,547 shares of the company's stock valued at $123,000 after buying an additional 198 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its holdings in Toro by 87.2% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company's stock valued at $133,000 after buying an additional 772 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Price Performance

Shares of Toro stock opened at $73.44 on Friday. The stock has a market capitalization of $7.39 billion, a P/E ratio of 18.31 and a beta of 0.72. The business has a 50 day simple moving average of $80.94 and a two-hundred day simple moving average of $83.59. The Toro Company has a 12 month low of $72.18 and a 12 month 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.

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Toro (NYSE:TTC - Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm 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 earned $0.71 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that The Toro Company will post 4.41 EPS for the current fiscal year.

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

Toro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were paid a $0.38 dividend. This is an increase from Toro's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, December 23rd. Toro's dividend payout ratio (DPR) is currently 37.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Robert W. Baird lowered their price target on Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday. StockNews.com cut Toro from a "buy" rating to a "hold" rating in a research report on Friday. Raymond James decreased their target price on Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, December 20th. Finally, Northland Securities raised shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target for the company in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Toro currently has an average rating of "Moderate Buy" and a consensus 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.

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