Wells Fargo & Company MN Has $52.05 Million Stock Position in The Toro Company (NYSE:TTC)

Wells Fargo & Company MN lifted its holdings in shares of The Toro Company (NYSE:TTC) by 34.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 542,263 shares of the company’s stock after buying an additional 140,096 shares during the period. Wells Fargo & Company MN’s holdings in Toro were worth $52,052,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Orion Capital Management LLC acquired a new position in Toro in the 3rd quarter valued at $25,000. VisionPoint Advisory Group LLC grew its stake in Toro by 135.9% in the 3rd 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 last quarter. Fortitude Family Office LLC acquired a new position in Toro in the 4th quarter valued at $26,000. Catalyst Capital Advisors LLC acquired a new position in Toro in the 3rd quarter valued at $30,000. Finally, Larson Financial Group LLC grew its stake in Toro by 253.2% in the 3rd quarter. Larson Financial Group LLC now owns 498 shares of the company’s stock valued at $41,000 after buying an additional 357 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Insider Transactions at Toro

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

Analysts Set New Price Targets

TTC has been the topic of a number of research analyst reports. DA Davidson raised their target price on shares of Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. TheStreet upgraded shares of Toro from a “c+” rating to a “b-” rating in a research note on Thursday, February 15th. Finally, StockNews.com downgraded 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 given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Toro presently has a consensus rating of “Hold” and an average price target of $98.75.

Toro Price Performance

Shares of Toro stock opened at $83.23 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 0.86. The Toro Company has a fifty-two week low of $78.35 and a fifty-two week high of $106.68. The firm has a fifty day moving average price of $87.79 and a two-hundred day moving average price of $89.53. The company has a market cap of $8.69 billion, a PE ratio of 30.38 and a beta of 0.72.

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

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, June 18th. Toro’s payout ratio is 52.55%.

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.