The Toro Company (NYSE:TTC) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in shares of The Toro Company (NYSE:TTC - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,854 shares of the company's stock after selling 5,537 shares during the quarter. Rhumbline Advisers owned about 0.30% of Toro worth $24,098,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TTC. Geode Capital Management LLC raised its stake in shares of Toro by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company's stock valued at $169,639,000 after acquiring an additional 29,105 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Toro by 11.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 618,986 shares of the company's stock valued at $53,685,000 after acquiring an additional 64,660 shares during the period. Allspring Global Investments Holdings LLC raised its stake 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 valued at $39,410,000 after acquiring an additional 498,332 shares during the period. Nuance Investments LLC purchased a new stake in shares of Toro in the third quarter valued at $29,146,000. Finally, Boston Trust Walden Corp raised its stake in shares of Toro by 3.6% in the fourth quarter. Boston Trust Walden Corp now owns 334,132 shares of the company's stock valued at $26,764,000 after acquiring an additional 11,549 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Trading Down 1.8 %

Shares of NYSE TTC traded down $1.45 during mid-day trading on Friday, reaching $79.95. The company had a trading volume of 690,977 shares, compared to its average volume of 771,223. The business's 50-day moving average is $81.74 and its 200-day moving average is $84.34. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 19.94 and a beta of 0.72. 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 issued its 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. Toro had a net margin of 9.14% and a return on equity of 27.25%. The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the prior year, the business earned $0.71 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts expect that The Toro Company will post 4.41 earnings per share for the current year.

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

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 23rd were given a $0.38 dividend. This is a positive change from Toro's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Monday, December 23rd. Toro's dividend payout ratio (DPR) is presently 37.91%.

Analyst Upgrades and Downgrades

Separately, 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 research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $93.75.

Toro 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.