Teacher Retirement System of Texas Makes New Investment in The Toro Company (NYSE:TTC)

Teacher Retirement System of Texas purchased a new stake in shares of The Toro Company (NYSE:TTC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 48,261 shares of the company's stock, valued at approximately $3,866,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. raised its position in Toro by 8.6% in the fourth quarter. Xponance Inc. now owns 17,650 shares of the company's stock worth $1,414,000 after acquiring an additional 1,398 shares during the period. Harbour Investments Inc. boosted its position in Toro by 75.5% during the 4th quarter. Harbour Investments Inc. now owns 2,457 shares of the company's stock valued at $197,000 after acquiring an additional 1,057 shares in the last quarter. Corient Private Wealth LLC acquired a new position in shares of Toro during the fourth quarter worth $271,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Toro by 17.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,878 shares of the company's stock worth $871,000 after buying an additional 1,654 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Toro by 20.7% in the fourth quarter. Natixis Advisors LLC now owns 24,840 shares of the company's stock worth $1,990,000 after acquiring an additional 4,252 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Trading Down 2.1 %

TTC stock traded down $1.56 during trading on Friday, reaching $73.29. 821,667 shares of the stock traded hands, compared to its average volume of 945,925. The Toro Company has a 52-week low of $71.23 and a 52-week high of $100.93. The business's 50 day moving average price is $79.20 and its 200-day moving average price is $82.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The firm has a market capitalization of $7.32 billion, a PE ratio of 18.28 and a beta of 0.70.

Remove Ads

Toro announced that its Board of Directors has authorized 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 purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Monday, March 31st. Toro's payout ratio is 38.87%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Robert W. Baird lowered 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, March 7th. 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. Raymond James reduced their target price on shares of Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. Finally, DA Davidson lowered their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. 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 company. According to data from MarketBeat.com, Toro currently has an average rating of "Moderate Buy" and a consensus price target of $89.75.

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.