Barclays PLC Decreases Stock Position in The Toro Company (NYSE:TTC)

Barclays PLC trimmed its position in shares of The Toro Company (NYSE:TTC - Free Report) by 26.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,730 shares of the company's stock after selling 97,346 shares during the period. Barclays PLC owned about 0.26% of Toro worth $23,480,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TTC. SG Americas Securities LLC lifted its holdings in Toro by 41.9% in the 2nd quarter. SG Americas Securities LLC now owns 10,837 shares of the company's stock worth $1,013,000 after buying an additional 3,202 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Toro by 32.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,150 shares of the company's stock worth $575,000 after acquiring an additional 1,510 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Toro by 29.5% in the second quarter. Assenagon Asset Management S.A. now owns 5,528 shares of the company's stock valued at $517,000 after acquiring an additional 1,258 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Toro by 0.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company's stock valued at $4,405,000 after purchasing an additional 123 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Toro in the 2nd quarter worth $2,532,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. DA Davidson cut their target price on shares of Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a research note on Monday, September 9th. StockNews.com upgraded Toro from a "hold" rating to a "buy" rating in a report on Monday, September 9th. Robert W. Baird lowered their target price on Toro from $102.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. Finally, Northland Securities reaffirmed a "market perform" rating and issued a $100.00 price target on shares of Toro in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Toro has a consensus rating of "Hold" and a consensus price target of $93.33.

Toro Stock Up 0.7 %

Shares of NYSE TTC traded up $0.59 on Friday, reaching $88.32. 890,558 shares of the company's stock traded hands, compared to its average volume of 546,688. The business's 50 day simple moving average is $84.18 and its two-hundred day simple moving average is $88.02. The Toro Company has a 12 month low of $77.15 and a 12 month high of $102.00. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 23.18 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59.

Toro declared that its Board of Directors has initiated a share buyback 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 often an indication that the company's board of directors believes its stock is undervalued.

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 23rd will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Monday, December 23rd. This is a positive change from Toro's previous quarterly dividend of $0.36. Toro's dividend payout ratio (DPR) is 37.80%.

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.