Raymond James Financial Inc. Invests $36.56 Million in The Toro Company (NYSE:TTC)

Raymond James Financial Inc. purchased a new stake in shares of 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 purchased 456,442 shares of the company's stock, valued at approximately $36,561,000. Raymond James Financial Inc. owned 0.45% of Toro at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its position in shares of Toro by 0.8% in the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company's stock worth $1,225,000 after buying an additional 120 shares during the period. Lindenwold Advisors INC boosted its position in shares of Toro by 2.8% in the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company's stock worth $400,000 after buying an additional 125 shares during the period. Northwest Financial Advisors boosted its position in shares of Toro by 2.0% in the fourth quarter. Northwest Financial Advisors now owns 6,945 shares of the company's stock worth $556,000 after buying an additional 139 shares during the period. Empowered Funds LLC boosted its position in shares of Toro by 7.1% in the third quarter. Empowered Funds LLC now owns 2,366 shares of the company's stock worth $205,000 after buying an additional 156 shares during the period. Finally, Savant Capital LLC boosted its position in shares of Toro by 5.0% in the fourth quarter. Savant Capital LLC now owns 3,293 shares of the company's stock worth $264,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

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Analyst Upgrades and Downgrades

TTC has been the subject of several analyst reports. Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price for the company in a research report on Monday, February 24th. StockNews.com cut Toro from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Robert W. Baird cut their price target on Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. DA Davidson cut their price target on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Raymond James cut their price target on Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Toro presently has a consensus rating of "Moderate Buy" and an average price target of $89.75.

Toro Stock Up 1.8 %

NYSE TTC traded up $1.33 on Friday, hitting $73.19. 941,248 shares of the stock traded hands, compared to its average volume of 910,911. The stock has a 50-day moving average of $80.51 and a 200 day moving average of $83.15. The Toro Company has a twelve month low of $71.75 and a twelve month high of $100.93. The company has a market capitalization of $7.31 billion, a P/E ratio of 18.25 and a beta of 0.70. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, hitting analysts' consensus estimates of $0.95. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations 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 earned $0.71 EPS. As a group, analysts expect 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 repurchase 4,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.