PNC Financial Services Group Inc. Grows Position in The Toro Company (NYSE:TTC)

PNC Financial Services Group Inc. boosted its position in The Toro Company (NYSE:TTC) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,359 shares of the company’s stock after purchasing an additional 867 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Toro were worth $1,631,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. increased its stake in shares of Toro by 0.8% during the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock valued at $1,225,000 after purchasing an additional 120 shares in the last quarter. Lindenwold Advisors INC boosted its holdings in Toro by 2.8% in the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock worth $400,000 after acquiring an additional 125 shares in the last quarter. Northwest Financial Advisors grew its stake in shares of Toro by 2.0% in the fourth quarter. Northwest Financial Advisors now owns 6,945 shares of the company’s stock worth $556,000 after acquiring an additional 139 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Toro by 7.1% during the third quarter. Empowered Funds LLC now owns 2,366 shares of the company’s stock valued at $205,000 after acquiring an additional 156 shares in the last quarter. Finally, Savant Capital LLC grew its position in Toro by 5.0% during the 4th quarter. Savant Capital LLC now owns 3,293 shares of the company’s stock valued at $264,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Raymond James cut their price target on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Northland Securities raised Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a research report on Monday, February 24th. Robert W. Baird decreased their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. StockNews.com cut shares of Toro from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Toro Stock Performance

TTC opened at $73.19 on Friday. The Toro Company has a 12-month low of $71.75 and a 12-month high of $100.93. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 18.25 and a beta of 0.70. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $80.37 and its 200 day moving average is $82.97.

Toro (NYSE:TTC) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that The Toro Company will post 4.41 EPS for the current year.

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