Impact Capital Partners LLC Buys New Shares in The Toro Company (NYSE:TTC)

Impact Capital Partners LLC acquired a new position in shares of The Toro Company (NYSE:TTC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,889 shares of the company's stock, valued at approximately $792,000.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in shares of Toro by 0.8% in the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company's stock valued at $1,225,000 after purchasing an additional 120 shares during the period. Lindenwold Advisors INC boosted its holdings in shares of Toro by 2.8% in the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company's stock valued at $400,000 after purchasing an additional 125 shares during the period. Northwest Financial Advisors boosted its holdings in shares of Toro by 2.0% in the fourth quarter. Northwest Financial Advisors now owns 6,945 shares of the company's stock valued at $556,000 after purchasing an additional 139 shares during the period. Empowered Funds LLC boosted its holdings in shares of Toro by 7.1% in the third quarter. Empowered Funds LLC now owns 2,366 shares of the company's stock valued at $205,000 after purchasing an additional 156 shares during the period. Finally, Savant Capital LLC boosted its holdings in shares of Toro by 5.0% in the fourth quarter. Savant Capital LLC now owns 3,293 shares of the company's stock valued at $264,000 after purchasing an additional 158 shares during the period. 87.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TTC has been the subject of a number of research reports. Robert W. Baird lowered their price target on Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Raymond James lowered their target price on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price for the company in a report on Monday, February 24th. Finally, DA Davidson lowered their target price on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.75.

Remove Ads

Toro Stock Up 0.2 %

Toro stock traded up $0.17 during mid-day trading on Monday, reaching $73.31. 1,037,940 shares of the company were exchanged, compared to its average volume of 904,293. The business has a fifty day moving average of $80.37 and a 200 day moving average of $82.92. The firm has a market cap of $7.32 billion, a P/E ratio of 18.28 and a beta of 0.70. 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 12-month low of $71.75 and a 12-month high of $100.93.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.95. The business 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 business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. Research analysts anticipate that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

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.