The Toro Company (NYSE:TTC) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in shares of The Toro Company (NYSE:TTC) by 17.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,878 shares of the company’s stock after acquiring an additional 1,654 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Toro were worth $871,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Asset Planning Inc acquired a new stake in Toro in the 4th quarter worth about $31,000. Venturi Wealth Management LLC boosted its holdings in Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after buying an additional 362 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock worth $65,000 after buying an additional 285 shares during the last quarter. PrairieView Partners LLC boosted its holdings in Toro by 14.7% in the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock worth $123,000 after buying an additional 198 shares during the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in Toro by 87.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock worth $133,000 after buying an additional 772 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TTC has been the topic of several research analyst reports. Robert W. Baird lowered their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Northland Securities raised 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 note on Monday, February 24th. DA Davidson decreased their target price on shares of Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.75.

Toro Trading Up 0.0 %

TTC opened at $73.09 on Monday. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 18.23 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 50 day simple moving average is $79.77 and its two-hundred day simple moving average is $82.25. The Toro Company has a 1-year low of $71.23 and a 1-year high of $100.93.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Monday, March 31st. Toro’s payout ratio is presently 38.87%.

Toro announced that its board has approved a stock buyback plan on Tuesday, December 10th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are 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.