King Luther Capital Management Corp Acquires 36,750 Shares of The Toro Company (NYSE:TTC)

King Luther Capital Management Corp increased its holdings in shares of The Toro Company (NYSE:TTC - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,043,833 shares of the company's stock after buying an additional 36,750 shares during the quarter. King Luther Capital Management Corp owned 1.03% of Toro worth $83,611,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TTC. Allspring Global Investments Holdings LLC lifted its holdings in shares of Toro by 996,664.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company's stock worth $39,410,000 after acquiring an additional 498,332 shares during the last quarter. Raymond James Financial Inc. bought a new position in Toro in the 4th quarter valued at approximately $36,561,000. Victory Capital Management Inc. boosted its position in Toro by 693.0% in the fourth quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock valued at $33,238,000 after buying an additional 362,634 shares in the last quarter. Nuance Investments LLC bought a new stake in shares of Toro during the third quarter worth $29,146,000. Finally, Amundi increased its holdings in shares of Toro by 30.3% during the fourth quarter. Amundi now owns 1,121,116 shares of the company's stock worth $89,701,000 after buying an additional 260,746 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TTC shares. StockNews.com downgraded Toro from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Raymond James reduced their price target on Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. Northland Securities upgraded shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective for the company in a report on Monday, February 24th. Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Robert W. Baird decreased their price target on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. 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's stock. Based on data from MarketBeat.com, Toro currently has a consensus rating of "Moderate Buy" and an average price target of $89.75.

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Toro Trading Down 2.1 %

Shares of Toro stock traded down $1.58 during midday trading on Wednesday, reaching $73.84. The company had a trading volume of 428,070 shares, compared to its average volume of 906,361. The stock has a fifty day moving average price of $80.79 and a 200 day moving average price of $83.30. The Toro Company has a fifty-two week low of $72.18 and a fifty-two week high of $100.93. The firm has a market cap of $7.43 billion, a PE ratio of 18.41 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 announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.95. Toro had a return on equity of 27.25% and a net margin of 9.14%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.71 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that The Toro Company will post 4.41 earnings per share for the current year.

Toro announced that its Board of Directors 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. Shares repurchase plans are typically a sign that the company's board 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.