Capital Fund Management S.A. Makes New Investment in The Toro Company (NYSE:TTC)

Capital Fund Management S.A. bought a new position in shares of The Toro Company (NYSE:TTC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,818 shares of the company's stock, valued at approximately $1,507,000.

A number of other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in Toro by 996,664.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company's stock valued at $39,410,000 after purchasing an additional 498,332 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Toro during the 4th quarter worth approximately $36,561,000. Victory Capital Management Inc. increased its stake in Toro by 693.0% during the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock valued at $33,238,000 after purchasing an additional 362,634 shares in the last quarter. Amundi raised its holdings in shares of Toro by 30.3% in the fourth quarter. Amundi now owns 1,121,116 shares of the company's stock worth $89,701,000 after buying an additional 260,746 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Toro during the fourth quarter worth about $12,379,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Price Performance

Toro stock traded up $0.59 during midday trading on Friday, reaching $67.09. The company had a trading volume of 668,017 shares, compared to its average volume of 974,675. The Toro Company has a 12-month low of $62.34 and a 12-month high of $100.93. The company has a market capitalization of $6.70 billion, a P/E ratio of 16.73 and a beta of 0.72. The firm's fifty day simple moving average is $73.76 and its 200-day simple moving average is $79.96. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.27%. Toro's payout ratio is 38.87%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TTC. 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 report on Monday, February 24th. Robert W. Baird lowered their target price on Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. StockNews.com cut Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Finally, DA Davidson lowered their target price on shares of Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.