The Toro Company (NYSE:TTC) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 118.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,378 shares of the company's stock after acquiring an additional 4,546 shares during the quarter. Farther Finance Advisors LLC's holdings in Toro were worth $671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HighTower Advisors LLC increased its stake in Toro by 8.8% in the fourth quarter. HighTower Advisors LLC now owns 9,191 shares of the company's stock valued at $736,000 after purchasing an additional 744 shares during the period. Wealthfront Advisers LLC acquired a new position in Toro in the fourth quarter valued at $3,226,000. Inspire Advisors LLC acquired a new position in Toro in the fourth quarter valued at $402,000. King Luther Capital Management Corp increased its stake in Toro by 3.6% in the fourth quarter. King Luther Capital Management Corp now owns 1,043,833 shares of the company's stock valued at $83,611,000 after purchasing an additional 36,750 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Toro by 68.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,762 shares of the company's stock valued at $5,027,000 after purchasing an additional 25,561 shares during the period. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Price Performance

Shares of TTC traded down $0.63 during mid-day trading on Wednesday, hitting $72.17. The company's stock had a trading volume of 970,892 shares, compared to its average volume of 909,191. The Toro Company has a 1-year low of $71.74 and a 1-year high of $100.93. The firm has a market capitalization of $7.20 billion, a P/E ratio of 18.00 and a beta of 0.70. The firm has a 50-day simple moving average of $80.12 and a 200 day simple moving average of $82.65. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

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Toro (NYSE:TTC - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business posted $0.71 EPS. Toro's quarterly revenue was up 9.4% on a year-over-year basis. Analysts predict that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.11%. The ex-dividend date is Monday, March 31st. Toro's payout ratio is currently 38.87%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. StockNews.com lowered shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Robert W. Baird reduced their price target on Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target for the company in a report on Monday, February 24th. Finally, DA Davidson reduced their price target on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.