Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Stock Position in The Toro Company (NYSE:TTC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in The Toro Company (NYSE:TTC) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,663 shares of the company’s stock after selling 234 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Toro were worth $1,815,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Asset Planning Inc purchased a new stake in Toro during the fourth quarter valued at $31,000. Venturi Wealth Management LLC increased its position in shares of Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after purchasing an additional 362 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of 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 purchasing an additional 285 shares during the period. PrairieView Partners LLC boosted its holdings in shares of Toro by 14.7% in the fourth 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 grew its position in Toro by 87.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock valued at $133,000 after buying an additional 772 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TTC shares. Robert W. Baird dropped their price target on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Raymond James cut their price target on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Monday, February 24th. Finally, 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. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Toro has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Stock Up 0.2 %

Shares of TTC opened at $74.55 on Wednesday. The Toro Company has a 12-month low of $71.23 and a 12-month high of $100.93. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $7.44 billion, a PE ratio of 18.59 and a beta of 0.70. The business’s 50 day moving average is $79.50 and its 200 day moving average is $82.14.

Toro announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Toro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, March 31st. Toro’s dividend payout ratio (DPR) is presently 38.87%.

Toro 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.