The Toro Company (NYSE:TTC) Shares Purchased by SVB Wealth LLC

SVB Wealth LLC boosted its position in The Toro Company (NYSE:TTC) by 8.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,410 shares of the company’s stock after purchasing an additional 261 shares during the quarter. SVB Wealth LLC’s holdings in Toro were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TTC. Orion Capital Management LLC acquired a new stake in Toro in the third quarter worth approximately $25,000. VisionPoint Advisory Group LLC lifted its position in Toro by 135.9% in the third quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock worth $25,000 after purchasing an additional 174 shares during the period. Fortitude Family Office LLC acquired a new stake in Toro in the fourth quarter worth approximately $26,000. Fred Alger Management LLC acquired a new stake in Toro in the fourth quarter worth approximately $29,000. Finally, Millburn Ridgefield Corp acquired a new stake in Toro in the third quarter worth approximately $30,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Price Performance

TTC opened at $85.11 on Monday. The stock has a fifty day moving average of $90.20 and a 200-day moving average of $88.86. The firm has a market capitalization of $8.89 billion, a P/E ratio of 31.06 and a beta of 0.72. The Toro Company has a 12-month low of $78.35 and a 12-month high of $108.50. The company has a quick ratio of 0.86, a current ratio of 2.13 and a debt-to-equity ratio of 0.76.

Toro (NYSE:TTC) last released its earnings results on Thursday, March 7th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1 billion. Toro had a net margin of 6.53% and a return on equity of 26.66%. Toro’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. Equities analysts forecast that The Toro Company will post 4.3 EPS for the current fiscal year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.69%. Toro’s payout ratio is currently 52.55%.

Analysts Set New Price Targets

TTC has been the subject of a number of recent research reports. StockNews.com downgraded Toro from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. DA Davidson increased their price objective on Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Finally, TheStreet upgraded Toro from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Toro presently has a consensus rating of “Hold” and a consensus target price of $105.60.

Insider Activity

In related news, Director Gary Lee Ellis sold 5,192 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the sale, the director now directly owns 33,051 shares in the company, valued at $2,933,276.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Gary Lee Ellis sold 5,192 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the sale, the director now directly owns 33,051 shares in the company, valued at $2,933,276.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Edric C. Funk sold 615 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $89.57, for a total value of $55,085.55. Following the sale, the vice president now owns 1,049 shares of the company’s stock, valued at $93,958.93. The disclosure for this sale can be found here. Corporate insiders own 1.62% of the company’s stock.

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.