Diversified Trust Co Has $1.97 Million Position in The Toro Company (NYSE:TTC)

Diversified Trust Co boosted its holdings in shares of The Toro Company (NYSE:TTC) by 72.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,631 shares of the company’s stock after acquiring an additional 10,383 shares during the period. Diversified Trust Co’s holdings in Toro were worth $1,973,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its holdings in shares of Toro by 682.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after acquiring an additional 420,539 shares during the last quarter. Millennium Management LLC raised its stake in shares of Toro by 11,970.3% in the second quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock worth $36,750,000 after purchasing an additional 389,752 shares during the last quarter. Nuance Investments LLC purchased a new stake in shares of Toro in the third quarter worth approximately $29,146,000. Marshall Wace LLP bought a new position in shares of Toro in the second quarter valued at approximately $25,166,000. Finally, Ensign Peak Advisors Inc boosted its position in shares of Toro by 41.0% during the second quarter. Ensign Peak Advisors Inc now owns 600,626 shares of the company’s stock valued at $56,165,000 after buying an additional 174,545 shares during the last quarter. 87.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Raymond James lowered their price target on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $93.75.

Toro Price Performance

Toro stock opened at $78.30 on Wednesday. The Toro Company has a 52 week low of $77.15 and a 52 week high of $100.93. The company’s 50 day moving average price is $83.53 and its two-hundred day moving average price is $86.84. The stock has a market cap of $7.92 billion, a P/E ratio of 20.55 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that The Toro Company will post 4.16 earnings per share for the current year.

Toro declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 23rd will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Monday, December 23rd. This is an increase from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio (DPR) is 37.91%.

About Toro

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.