Flagship Harbor Advisors LLC trimmed its position in shares of The Toro Company (NYSE:TTC – Free Report) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,703 shares of the company’s stock after selling 532 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Toro were worth $297,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after buying an additional 333 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Toro by 850.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after buying an additional 765 shares during the last quarter. CWM LLC lifted its position in shares of Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after buying an additional 143 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Toro by 534.8% during the third quarter. Blue Trust Inc. now owns 1,333 shares of the company’s stock valued at $125,000 after buying an additional 1,123 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of Toro by 13.5% during the third quarter. V Square Quantitative Management LLC now owns 1,540 shares of the company’s stock valued at $134,000 after buying an additional 183 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.
Toro Stock Performance
TTC opened at $84.26 on Thursday. The Toro Company has a 52-week low of $76.95 and a 52-week 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 company has a market cap of $8.53 billion, a P/E ratio of 21.01 and a beta of 0.72. The firm’s 50-day moving average price is $83.65 and its 200-day moving average price is $86.00.
Toro declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
Toro Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 23rd were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio is 37.91%.
Wall Street Analyst Weigh In
Separately, Raymond James cut their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.75.
Check Out Our Latest Stock Analysis on TTC
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.
Recommended Stories
- Five stocks we like better than Toro
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- How to Short Sell Stocks Like a Pro: Strategies and Tips
- What is the Dow Jones Industrial Average (DJIA)?
- 3 Steel Stocks Soaring After Tariff Announcements
- How to Find Undervalued Stocks
- Top Analysts’ Picks for 2025: 3 of Morgan Stanley’s Favorites
Receive News & Ratings for Toro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toro and related companies with MarketBeat.com's FREE daily email newsletter.