The Toro Company (NYSE:TTC) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP grew its position in shares of The Toro Company (NYSE:TTC) by 111.4% during the fourth quarter, Holdings Channel reports. The firm owned 51,945 shares of the company’s stock after acquiring an additional 27,376 shares during the quarter. Quantbot Technologies LP’s holdings in Toro were worth $4,161,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Planning Inc acquired a new position in shares of Toro in the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC boosted its position in Toro by 195.7% in the 4th 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. grew its stake in shares of Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock worth $65,000 after acquiring an additional 285 shares in the last quarter. PrairieView Partners LLC raised its stake in shares of Toro by 14.7% in 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 boosted its holdings in Toro by 87.2% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock valued at $133,000 after purchasing an additional 772 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TTC. Raymond James reduced their price target on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Robert W. Baird reduced their target price on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Northland Securities upgraded shares of 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. DA Davidson decreased their price objective on shares of Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.75.

Toro Price Performance

Shares of NYSE:TTC opened at $73.19 on Friday. The Toro Company has a 12 month low of $71.75 and a 12 month high of $100.93. The firm has a market capitalization of $7.31 billion, a P/E ratio of 18.25 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The company’s fifty day moving average price is $80.37 and its 200 day moving average price is $83.03.

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

Toro declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.