Callan Family Office LLC Takes $850,000 Position in The Toro Company (NYSE:TTC)

Callan Family Office LLC bought a new stake in The Toro Company (NYSE:TTC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,613 shares of the company's stock, valued at approximately $850,000.

Other institutional investors also recently modified their holdings of the company. Asset Planning Inc bought a new stake in shares of Toro in the fourth quarter valued at about $31,000. Venturi Wealth Management LLC boosted its position in shares of Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock valued at $44,000 after acquiring an additional 362 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after acquiring an additional 285 shares during the period. PrairieView Partners LLC boosted its position in shares of 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 acquiring an additional 198 shares during the period. Finally, Eagle Bay Advisors LLC boosted its position in shares of 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 acquiring an additional 772 shares during the period. Institutional investors own 87.95% of the company's stock.

Toro Stock Down 1.0 %

Shares of NYSE TTC opened at $73.44 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 18.31 and a beta of 0.70. The Toro Company has a 12 month low of $72.18 and a 12 month high of $100.93. The stock has a 50-day moving average price of $80.94 and a two-hundred day moving average price of $83.55.

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Toro (NYSE:TTC - Get Free Report) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $1.08 billion during 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 business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, analysts forecast that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro declared that its board has initiated a stock 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. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is 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 paid a dividend of $0.38 per share. This is an increase 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 yield of 2.07%. Toro's payout ratio is presently 38.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TTC shares. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Raymond James cut 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. Robert W. Baird cut their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday. Northland Securities raised shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective for the company in a research report on Monday, February 24th. Finally, StockNews.com cut shares of Toro from a "buy" rating to a "hold" rating in a research report on Friday. Three 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's stock. According to data from MarketBeat, Toro has an average rating of "Moderate Buy" and a consensus price target of $91.75.

About Toro

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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