AssuredPartners Investment Advisors LLC Takes $382,000 Position in The Toro Company (NYSE:TTC)

AssuredPartners Investment Advisors LLC purchased a new stake in shares of The Toro Company (NYSE:TTC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,764 shares of the company's stock, valued at approximately $382,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TTC. Geode Capital Management LLC boosted its position in shares of Toro by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company's stock valued at $169,639,000 after buying an additional 29,105 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Toro by 5.3% in 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 acquiring an additional 60,068 shares during the period. Amundi grew its stake in shares of Toro by 30.3% during the 4th quarter. Amundi now owns 1,121,116 shares of the company's stock valued at $89,701,000 after purchasing an additional 260,746 shares during the period. King Luther Capital Management Corp grew its position in shares of Toro by 3.6% during 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 increased its stake in shares of Toro by 3.2% in the 4th 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 in the last quarter. Institutional investors own 87.95% of the company's stock.

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Toro Price Performance

TTC traded up $0.46 during midday trading on Wednesday, hitting $73.03. 182,870 shares of the company traded hands, compared to its average volume of 948,937. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 18.19 and a beta of 0.72. The business has a 50 day simple moving average of $78.54 and a two-hundred day simple moving average of $81.82. 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 Toro Company has a 52-week low of $71.23 and a 52-week high of $100.93.

Toro declared that its board has approved a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Toro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Monday, March 31st. Toro's payout ratio is 38.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com cut shares of Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. DA Davidson cut their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Raymond James decreased their price target 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. Finally, Robert W. Baird dropped their target price on shares of Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Three investment 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.75.

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.