Swiss National Bank Sells 19,000 Shares of The Toro Company (NYSE:TTC)

Swiss National Bank reduced its position in shares of The Toro Company (NYSE:TTC) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 289,900 shares of the company’s stock after selling 19,000 shares during the quarter. Swiss National Bank owned about 0.29% of Toro worth $23,221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in Toro by 996,664.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock valued at $39,410,000 after purchasing an additional 498,332 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Toro during the 4th quarter valued at about $36,561,000. Victory Capital Management Inc. lifted its holdings in shares of Toro by 693.0% in the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company’s stock valued at $33,238,000 after acquiring an additional 362,634 shares during the last quarter. Nuance Investments LLC purchased a new position in Toro in the third quarter worth about $29,146,000. Finally, Amundi increased its stake in Toro by 30.3% during the fourth quarter. Amundi now owns 1,121,116 shares of the company’s stock worth $89,701,000 after acquiring an additional 260,746 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on TTC. Robert W. Baird dropped their target price on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. StockNews.com cut shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson lowered their target price on shares of Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Monday, February 24th. Finally, Raymond James reduced their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.75.

Toro Stock Up 0.2 %

Shares of TTC opened at $73.31 on Tuesday. The firm has a market capitalization of $7.32 billion, a P/E ratio of 18.28 and a beta of 0.70. The Toro Company has a 12-month low of $71.03 and a 12-month high of $100.93. The firm has a fifty day moving average price of $80.23 and a 200-day moving average price of $82.79. 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 (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $0.71 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts expect that The Toro Company will post 4.41 earnings per share for the current year.

Toro announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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.