SRS Capital Advisors Inc. Has $101,000 Stock Holdings in The Toro Company (NYSE:TTC)

SRS Capital Advisors Inc. decreased its position in The Toro Company (NYSE:TTC) by 22.6% in the 4th quarter, HoldingsChannel reports. The fund owned 1,259 shares of the company’s stock after selling 368 shares during the period. SRS Capital Advisors Inc.’s holdings in Toro were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of Toro by 1,023.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the company’s stock valued at $137,000 after purchasing an additional 1,555 shares during the period. US Bancorp DE boosted its stake in Toro by 3.2% during the fourth quarter. US Bancorp DE now owns 799,385 shares of the company’s stock worth $64,031,000 after buying an additional 24,596 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Toro by 1.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,114 shares of the company’s stock valued at $890,000 after buying an additional 207 shares during the period. NewEdge Wealth LLC increased its holdings in Toro by 22.8% in the 4th quarter. NewEdge Wealth LLC now owns 48,490 shares of the company’s stock valued at $3,884,000 after buying an additional 9,018 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Toro by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock valued at $95,123,000 after buying an additional 60,068 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Trading Down 4.8 %

Shares of TTC stock opened at $74.30 on Friday. The company has a market capitalization of $7.48 billion, a P/E ratio of 18.53 and a beta of 0.72. The Toro Company has a 12-month low of $72.18 and a 12-month high of $100.93. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $81.09 and a 200 day moving average price of $83.70.

Toro (NYSE:TTC) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. Toro’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. Research analysts forecast that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Toro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $1.52 dividend on an annualized basis and a yield of 2.05%. This is a positive change from Toro’s previous quarterly dividend of $0.36. Toro’s payout ratio is currently 37.91%.

Wall Street Analyst Weigh In

TTC has been the topic of several recent research reports. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Monday, February 24th. Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Finally, Raymond James dropped their target price on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.