Tredje AP fonden Sells 5,743 Shares of The Toro Company (NYSE:TTC)

Tredje AP fonden trimmed its holdings in shares of The Toro Company (NYSE:TTC) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,744 shares of the company’s stock after selling 5,743 shares during the quarter. Tredje AP fonden’s holdings in Toro were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in Toro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock worth $169,639,000 after buying an additional 29,105 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Toro by 5.3% during 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 purchasing an additional 60,068 shares during the last quarter. Amundi grew its stake in Toro by 30.3% during the 4th quarter. Amundi now owns 1,121,116 shares of the company’s stock valued at $89,701,000 after purchasing an additional 260,746 shares during the last quarter. King Luther Capital Management Corp grew its stake in Toro by 3.6% during the 4th 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 last quarter. Finally, US Bancorp DE grew its stake in Toro by 3.2% during the 4th quarter. US Bancorp DE now owns 799,385 shares of the company’s stock valued at $64,031,000 after purchasing an additional 24,596 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on TTC shares. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Monday, February 24th. DA Davidson lowered their target price on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird lowered their target price on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Three research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Stock Performance

NYSE TTC opened at $73.19 on Friday. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 18.25 and a beta of 0.70. The Toro Company has a twelve month low of $71.75 and a twelve month high of $100.93. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $80.37 and a 200 day moving average of $82.97.

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

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

About Toro

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.