Amalgamated Bank Lowers Holdings in The Toro Company (NYSE:TTC)

Amalgamated Bank trimmed its stake in shares of The Toro Company (NYSE:TTC) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,891 shares of the company’s stock after selling 662 shares during the period. Amalgamated Bank’s holdings in Toro were worth $3,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Toro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock worth $169,639,000 after purchasing an additional 29,105 shares during the period. Bank of New York Mellon Corp boosted its holdings in Toro by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock worth $95,123,000 after buying an additional 60,068 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Toro by 11.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 618,986 shares of the company’s stock valued at $53,685,000 after buying an additional 64,660 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Toro by 996,664.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock valued at $39,410,000 after buying an additional 498,332 shares in the last quarter. Finally, Nuance Investments LLC acquired a new position in shares of Toro in the third quarter worth about $29,146,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TTC shares. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Monday, February 24th. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Raymond James cut their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Toro currently has a consensus rating of “Moderate Buy” and an average target price of $93.75.

Toro Stock Up 0.2 %

TTC stock opened at $80.06 on Friday. The stock has a market capitalization of $8.06 billion, a P/E ratio of 19.96 and a beta of 0.72. The Toro Company has a 52 week low of $76.95 and a 52 week high of $100.93. The firm has a 50-day simple moving average of $81.48 and a 200-day simple moving average of $84.10. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last announced its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Equities analysts forecast that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $1.52 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Toro’s previous quarterly dividend of $0.36. Toro’s dividend payout ratio (DPR) is presently 37.91%.

Toro declared that its board has authorized a stock buyback program on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.