Victory Capital Management Inc. Buys 362,634 Shares of The Toro Company (NYSE:TTC)

Victory Capital Management Inc. raised its holdings in The Toro Company (NYSE:TTC - Free Report) by 693.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 414,961 shares of the company's stock after buying an additional 362,634 shares during the quarter. Victory Capital Management Inc. owned 0.41% of Toro worth $33,238,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new position in Toro in the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC lifted its stake in Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock valued at $44,000 after buying an additional 362 shares during the period. First Horizon Advisors Inc. lifted its stake in Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after buying an additional 285 shares during the period. PrairieView Partners LLC increased its holdings in shares of Toro by 14.7% during the fourth quarter. PrairieView Partners LLC now owns 1,547 shares of the company's stock valued at $123,000 after acquiring an additional 198 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its holdings in shares of Toro by 87.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company's stock valued at $133,000 after acquiring an additional 772 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Stock Down 2.8 %

Toro stock traded down $2.11 during trading on Wednesday, hitting $73.30. 998,236 shares of the company were exchanged, compared to its average volume of 909,284. The business's 50 day moving average is $80.65 and its 200 day moving average is $83.23. The Toro Company has a 52 week low of $72.18 and a 52 week high of $100.93. The company has a market capitalization of $7.38 billion, a P/E ratio of 18.28 and a beta of 0.70. 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 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. Toro had a return on equity of 27.25% and a net margin of 9.14%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. Toro's revenue was up 9.4% compared to the same quarter last year. Analysts predict that The Toro Company will post 4.41 earnings per share for the current year.

Toro announced that its board has approved a share buyback program on Tuesday, December 10th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

TTC has been the subject of several recent research reports. DA Davidson decreased their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday. Robert W. Baird decreased their price objective on Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. StockNews.com downgraded Toro from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, Raymond James decreased their price objective on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Toro has a consensus rating of "Moderate Buy" and an average target price 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.