Elo Mutual Pension Insurance Co Makes New $883,000 Investment in The Toro Company (NYSE:TTC)

Elo Mutual Pension Insurance Co purchased a new position in The Toro Company (NYSE:TTC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,029 shares of the company's stock, valued at approximately $883,000.

A number of other large investors have also modified their holdings of the business. Geode Capital Management LLC boosted its stake in Toro by 1.5% in 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of 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 during the period. Amundi grew its holdings in shares of Toro by 30.3% during the fourth quarter. Amundi now owns 1,121,116 shares of the company's stock valued at $89,701,000 after buying an additional 260,746 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of Toro by 3.6% in the 4th quarter. King Luther Capital Management Corp now owns 1,043,833 shares of the company's stock valued at $83,611,000 after acquiring an additional 36,750 shares during the period. Finally, US Bancorp DE raised its stake in shares of Toro by 3.2% in the fourth quarter. US Bancorp DE now owns 799,385 shares of the company's stock worth $64,031,000 after purchasing an additional 24,596 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James decreased their target price on shares of Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, December 20th. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. DA Davidson dropped their target price on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. StockNews.com downgraded Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Finally, Northland Securities raised shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective on the stock in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Toro has a consensus rating of "Moderate Buy" and a consensus target price of $89.75.

Toro Price Performance

TTC stock traded down $5.23 during mid-day trading on Thursday, reaching $68.62. 482,258 shares of the company's stock were exchanged, compared to its average volume of 1,090,423. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 17.11 and a beta of 0.72. The Toro Company has a 12-month low of $67.94 and a 12-month high of $100.93. The stock's 50 day moving average is $78.34 and its 200 day moving average is $81.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro declared that its board has initiated a stock 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 usually an indication that the company's leadership believes its stock is undervalued.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.22%. Toro's dividend payout ratio is currently 38.87%.

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.