Bryce Point Capital LLC Acquires New Position in The Toro Company (NYSE:TTC)

Bryce Point Capital LLC bought a new position in The Toro Company (NYSE:TTC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,639 shares of the company’s stock, valued at approximately $692,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TTC. BNP Paribas Financial Markets boosted its stake in shares of Toro by 59.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 55,621 shares of the company’s stock valued at $4,824,000 after purchasing an additional 20,783 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Toro by 18.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,282 shares of the company’s stock valued at $371,000 after buying an additional 662 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Toro by 4.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,201 shares of the company’s stock valued at $3,226,000 after buying an additional 1,541 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Toro by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 618,986 shares of the company’s stock worth $53,685,000 after acquiring an additional 64,660 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in shares of Toro by 127.2% in the third quarter. Verition Fund Management LLC now owns 24,606 shares of the company’s stock valued at $2,134,000 after acquiring an additional 13,776 shares during the period. 87.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TTC has been the topic of several recent analyst reports. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. 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. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Monday, February 24th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Robert W. Baird decreased their price target on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.75.

Toro Stock Up 1.8 %

NYSE:TTC opened at $73.91 on Thursday. The firm has a 50-day simple moving average of $78.34 and a two-hundred day simple moving average of $81.76. The firm has a market cap of $7.38 billion, a P/E ratio of 18.43 and a beta of 0.72. The Toro Company has a fifty-two week low of $71.23 and a fifty-two week high of $100.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

Toro announced that its board has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Toro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid 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 2.06%. Toro’s dividend payout ratio 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.