Cambiar Investors LLC Sells 13,180 Shares of The Toro Company (NYSE:TTC)

Cambiar Investors LLC decreased its stake in The Toro Company (NYSE:TTC - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,435 shares of the company's stock after selling 13,180 shares during the period. Cambiar Investors LLC owned 0.10% of Toro worth $8,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in shares of Toro by 112.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the company's stock valued at $55,000 after buying an additional 333 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Toro by 850.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company's stock worth $74,000 after purchasing an additional 765 shares during the period. CWM LLC grew its stake in Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company's stock worth $92,000 after purchasing an additional 143 shares during the period. Blue Trust Inc. grew its stake in Toro by 534.8% during the third quarter. Blue Trust Inc. now owns 1,333 shares of the company's stock worth $125,000 after purchasing an additional 1,123 shares during the period. Finally, Eagle Bay Advisors LLC grew its stake in Toro by 87.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company's stock worth $133,000 after purchasing an additional 772 shares during the period. Institutional investors and hedge funds own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James decreased their target price on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Toro has a consensus rating of "Hold" and an average target price of $93.75.

Toro Stock Up 0.4 %

NYSE:TTC traded up $0.33 on Friday, hitting $80.50. The stock had a trading volume of 860,186 shares, compared to its average volume of 770,423. The business's fifty day moving average is $82.38 and its 200 day moving average is $84.75. The company has a market cap of $8.10 billion, a PE ratio of 20.07 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The Toro Company has a 52 week low of $76.95 and a 52 week high of $100.93.

Toro (NYSE:TTC - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, equities research analysts expect that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were issued a $0.38 dividend. The ex-dividend date was Monday, December 23rd. This represents a $1.52 annualized dividend and a yield of 1.89%. This is a positive change from Toro's previous quarterly dividend of $0.36. Toro's dividend payout ratio is presently 37.91%.

Toro declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are 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.