The Toro Company (NYSE:TTC) Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC lowered its stake in shares of The Toro Company (NYSE:TTC) by 80.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 700 shares of the company’s stock after selling 2,860 shares during the quarter. Nemes Rush Group LLC’s holdings in Toro were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TTC. Asset Planning Inc bought a new stake in shares of Toro in the 4th quarter valued at approximately $31,000. Venturi Wealth Management LLC increased its stake in Toro by 195.7% during the fourth 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. CIBC Private Wealth Group LLC raised its holdings in shares of Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after purchasing an additional 127 shares during the period. First Horizon Advisors Inc. lifted its position 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 buying an additional 285 shares during the last quarter. Finally, PrairieView Partners LLC boosted its holdings in shares of Toro by 14.7% in the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock valued at $123,000 after buying an additional 198 shares during the period. Institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TTC has been the topic of several research reports. Raymond James dropped their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. DA Davidson dropped their price target on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. 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 report on Monday, February 24th. Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Finally, StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

Toro Price Performance

TTC stock opened at $73.91 on Thursday. The Toro Company has a one year low of $71.23 and a one year high of $100.93. The firm has a 50-day moving average of $78.34 and a two-hundred day moving average of $81.76. The firm has a market capitalization of $7.38 billion, a PE ratio of 18.43 and a beta of 0.72. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

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 paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, March 31st. Toro’s dividend payout ratio is 38.87%.

Toro announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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.