Olympiad Research LP Has $256,000 Position in The Toro Company (NYSE:TTC)

Olympiad Research LP reduced its holdings in The Toro Company (NYSE:TTC) by 35.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,195 shares of the company’s stock after selling 1,726 shares during the quarter. Olympiad Research LP’s holdings in Toro were worth $256,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Asset Planning Inc bought a new stake in shares of Toro in the fourth quarter valued at about $31,000. Venturi Wealth Management LLC lifted its stake in shares of Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after buying an additional 362 shares during the period. CWM LLC lifted its stake in shares of Toro by 15.5% in the third quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after buying an additional 143 shares during the period. Blue Trust Inc. lifted its stake in shares of Toro by 534.8% in the third quarter. Blue Trust Inc. now owns 1,333 shares of the company’s stock valued at $125,000 after buying an additional 1,123 shares during the period. Finally, PrairieView Partners LLC lifted its stake in shares of Toro by 14.7% in the fourth quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock valued at $123,000 after buying an additional 198 shares during the period. Institutional investors own 87.95% of the company’s stock.

Toro Stock Down 1.8 %

Shares of TTC opened at $79.95 on Monday. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 19.94 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The Toro Company has a 12 month low of $76.95 and a 12 month high of $100.93. The company has a 50-day moving average price of $81.74 and a two-hundred day moving average price of $84.27.

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

Toro declared that its board has initiated a share repurchase plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Toro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were paid a $0.38 dividend. The ex-dividend date was Monday, December 23rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Toro’s previous quarterly dividend of $0.36. Toro’s payout ratio is 37.91%.

Wall Street Analyst Weigh In

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

Toro Company 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.