The Toro Company (NYSE:TTC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of The Toro Company (NYSE:TTC) by 0.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 155,803 shares of the company’s stock after selling 261 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Toro were worth $13,348,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of TTC. Empowered Funds LLC grew its holdings in Toro by 7.1% during the third quarter. Empowered Funds LLC now owns 2,366 shares of the company’s stock worth $205,000 after acquiring an additional 156 shares during the period. Quest Partners LLC raised its holdings in shares of Toro by 62,750.0% in the 3rd quarter. Quest Partners LLC now owns 3,771 shares of the company’s stock worth $327,000 after purchasing an additional 3,765 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Toro by 2.5% during the third quarter. PNC Financial Services Group Inc. now owns 19,492 shares of the company’s stock valued at $1,691,000 after purchasing an additional 478 shares during the last quarter. Commerce Bank boosted its holdings in Toro by 36.0% during the third quarter. Commerce Bank now owns 12,472 shares of the company’s stock worth $1,082,000 after buying an additional 3,304 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Toro by 64.8% in the third quarter. Intech Investment Management LLC now owns 29,735 shares of the company’s stock worth $2,579,000 after buying an additional 11,687 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Price Performance

NYSE TTC opened at $73.09 on Friday. The company has a 50 day simple moving average of $79.77 and a 200-day simple moving average of $82.37. The Toro Company has a 52-week low of $71.23 and a 52-week high of $100.93. 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.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts predict that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro declared that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Toro Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird decreased their target price on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Raymond James cut their price target 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. Finally, DA Davidson decreased their price objective on shares of Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.75.

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.