Callan Family Office LLC Takes Position in The Toro Company (NYSE:TTC)

Callan Family Office LLC acquired a new stake in The Toro Company (NYSE:TTC) in the 4th quarter, Holdings Channel.com reports. The fund acquired 10,613 shares of the company’s stock, valued at approximately $850,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Toro by 996,664.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock valued at $39,410,000 after purchasing an additional 498,332 shares during the period. Raymond James Financial Inc. acquired a new stake in Toro during the 4th quarter valued at approximately $36,561,000. Victory Capital Management Inc. increased its position in Toro by 693.0% during the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company’s stock valued at $33,238,000 after purchasing an additional 362,634 shares during the period. Nuance Investments LLC acquired a new stake in Toro during the 3rd quarter valued at approximately $29,146,000. Finally, Worldquant Millennium Advisors LLC increased its position in Toro by 71.2% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 217,739 shares of the company’s stock valued at $18,885,000 after purchasing an additional 90,538 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Price Performance

Toro stock opened at $73.44 on Friday. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 18.31 and a beta of 0.70. The Toro Company has a 52-week low of $72.18 and a 52-week high of $100.93. The stock’s 50 day moving average price is $80.94 and its two-hundred day moving average price is $83.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

Toro (NYSE:TTC) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) 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 firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts predict that The Toro Company will post 4.41 earnings per share for the current year.

Toro declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Toro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 23rd were issued a $0.38 dividend. This is a boost from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, December 23rd. Toro’s dividend payout ratio (DPR) is currently 38.87%.

Analyst Ratings Changes

A number of research firms have weighed in on TTC. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a research report on Monday, February 24th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Raymond James decreased their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Robert W. Baird cut their price target on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday. Finally, StockNews.com cut Toro from a “buy” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Toro presently has a consensus rating of “Moderate Buy” and an average price target of $91.75.

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.