The Toro Company (NYSE:TTC) Shares Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lifted its holdings in shares of The Toro Company (NYSE:TTC) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,697 shares of the company’s stock after purchasing an additional 1,447 shares during the period. Marks Group Wealth Management Inc owned about 0.06% of Toro worth $6,402,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Fortitude Family Office LLC purchased a new position in Toro in the 4th quarter valued at about $26,000. VisionPoint Advisory Group LLC lifted its stake in shares of Toro by 135.9% during the third quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock valued at $25,000 after buying an additional 174 shares during the period. Orion Capital Management LLC acquired a new stake in Toro during the third quarter worth approximately $25,000. Millburn Ridgefield Corp purchased a new stake in Toro in the 3rd quarter worth approximately $30,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Toro in the 3rd quarter valued at $30,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TTC has been the subject of several recent analyst reports. TheStreet upgraded Toro from a “c+” rating to a “b-” rating in a report on Thursday, February 15th. DA Davidson upped their price target on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, StockNews.com lowered shares of Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $105.60.

Insider Buying and Selling

In other news, Director Gary Lee Ellis sold 5,192 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $88.75, for a total value of $460,790.00. Following the completion of the sale, the director now directly owns 33,051 shares in the company, valued at approximately $2,933,276.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Edric C. Funk sold 615 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $89.57, for a total transaction of $55,085.55. Following the sale, the vice president now owns 1,049 shares in the company, valued at $93,958.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary Lee Ellis sold 5,192 shares of Toro stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.75, for a total value of $460,790.00. Following the completion of the transaction, the director now owns 33,051 shares of the company’s stock, valued at $2,933,276.25. The disclosure for this sale can be found here. Insiders own 1.62% of the company’s stock.

Toro Price Performance

TTC opened at $86.65 on Wednesday. The Toro Company has a twelve month low of $78.35 and a twelve month high of $108.50. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 31.62 and a beta of 0.72. The company has a current ratio of 2.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $89.81 and a 200 day simple moving average of $88.95.

Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Toro had a net margin of 6.53% and a return on equity of 26.66%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company posted $0.98 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities research analysts expect that The Toro Company will post 4.3 EPS for the current fiscal year.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were given a dividend of $0.36 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 1.66%. Toro’s payout ratio is 52.55%.

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.