Quantum Private Wealth LLC Boosts Stock Position in The Toro Company (NYSE:TTC)

Quantum Private Wealth LLC lifted its position in The Toro Company (NYSE:TTC) by 11.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,223 shares of the company’s stock after purchasing an additional 618 shares during the quarter. Quantum Private Wealth LLC’s holdings in Toro were worth $597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Toro during the 3rd quarter valued at about $25,000. VisionPoint Advisory Group LLC boosted its holdings in Toro by 135.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock valued at $25,000 after acquiring an additional 174 shares during the period. Fortitude Family Office LLC purchased a new stake in Toro during the 4th quarter valued at about $26,000. Fred Alger Management LLC purchased a new stake in Toro during the 4th quarter valued at about $29,000. Finally, Millburn Ridgefield Corp purchased a new stake in Toro during the 3rd quarter valued at about $30,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Stock Performance

Shares of TTC stock traded up $0.20 on Wednesday, reaching $85.79. The stock had a trading volume of 779,118 shares, compared to its average volume of 544,403. The stock has a market cap of $8.96 billion, a P/E ratio of 31.31 and a beta of 0.72. The Toro Company has a 1 year low of $78.35 and a 1 year high of $108.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 2.13. The company has a 50 day simple moving average of $91.01 and a 200 day simple moving average of $88.84.

Toro (NYSE:TTC) last released its earnings results on Thursday, March 7th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion. Toro had a net margin of 6.53% and a return on equity of 26.66%. Toro’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Equities research analysts expect that The Toro Company will post 4.3 EPS for the current year.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 1.68%. Toro’s dividend payout ratio is presently 52.55%.

Insider Buying and Selling at Toro

In other Toro news, Director Gary Lee Ellis sold 5,192 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the sale, the director now directly owns 33,051 shares of the company’s stock, valued at $2,933,276.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Edric C. Funk sold 615 shares of Toro stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $89.57, for a total value of $55,085.55. Following the sale, the vice president now directly owns 1,049 shares of the company’s stock, valued at $93,958.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Lee Ellis sold 5,192 shares of Toro stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $88.75, for a total value of $460,790.00. Following the completion of the sale, the director now directly owns 33,051 shares in the company, valued at $2,933,276.25. The disclosure for this sale can be found here. Insiders own 1.62% of the company’s stock.

Analysts Set New Price Targets

TTC has been the subject of several research analyst reports. StockNews.com cut Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. TheStreet raised Toro from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th. DA Davidson increased their target price on Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, Robert W. Baird increased their target price on Toro from $92.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.60.

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.