Allspring Global Investments Holdings LLC Has $39.41 Million Stock Holdings in The Toro Company (NYSE:TTC)

Allspring Global Investments Holdings LLC raised its holdings in shares of The Toro Company (NYSE:TTC - Free Report) by 996,664.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 498,382 shares of the company's stock after acquiring an additional 498,332 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.49% of Toro worth $39,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Leavell Investment Management Inc. bought a new stake in shares of Toro in the 4th quarter valued at approximately $227,000. Savant Capital LLC grew its stake in shares of Toro by 5.0% in the 4th quarter. Savant Capital LLC now owns 3,293 shares of the company's stock valued at $264,000 after buying an additional 158 shares in the last quarter. Entropy Technologies LP grew its stake in shares of Toro by 134.6% in the 4th quarter. Entropy Technologies LP now owns 33,312 shares of the company's stock valued at $2,668,000 after buying an additional 19,112 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Toro by 1,395.2% in the 4th quarter. Empowered Funds LLC now owns 35,376 shares of the company's stock valued at $2,834,000 after buying an additional 33,010 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Toro in the 4th quarter valued at approximately $1,779,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Price Performance

Shares of TTC stock traded up $1.64 during trading hours on Tuesday, hitting $82.18. 306,036 shares of the company's stock were exchanged, compared to its average volume of 754,755. The stock's 50-day moving average is $82.24 and its 200-day moving average is $84.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 20.49 and a beta of 0.72. The Toro Company has a 52 week low of $76.95 and a 52 week high of $100.93.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Toro had a return on equity of 27.25% and a net margin of 9.14%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that The Toro Company will post 4.41 EPS for the current year.

Toro declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Toro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, December 23rd. This is a positive change from Toro's previous quarterly dividend of $0.36. Toro's dividend payout ratio is 37.91%.

Analyst Upgrades and Downgrades

Separately, Raymond James reduced their target price on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Toro currently has a consensus 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.