Kayne Anderson Rudnick Investment Management LLC Has $563.21 Million Holdings in The Toro Company (NYSE:TTC)

Kayne Anderson Rudnick Investment Management LLC lifted its position in The Toro Company (NYSE:TTC - Free Report) by 45.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,031,295 shares of the company's stock after acquiring an additional 2,199,920 shares during the period. Toro comprises approximately 1.3% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its 23rd largest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 6.99% of Toro worth $563,207,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MML Investors Services LLC grew its position in Toro by 5.5% during the 4th quarter. MML Investors Services LLC now owns 24,196 shares of the company's stock worth $1,938,000 after purchasing an additional 1,261 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Toro by 7.7% in the fourth quarter. MetLife Investment Management LLC now owns 57,845 shares of the company's stock worth $4,633,000 after buying an additional 4,149 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Toro by 5.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,100 shares of the company's stock valued at $649,000 after buying an additional 442 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Toro by 17.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company's stock valued at $88,152,000 after buying an additional 164,069 shares during the period. Finally, First Trust Advisors LP lifted its stake in Toro by 264.5% in the 4th quarter. First Trust Advisors LP now owns 211,849 shares of the company's stock worth $16,969,000 after acquiring an additional 153,730 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Toro Stock Up 1.6 %

NYSE TTC traded up $1.03 during trading on Tuesday, reaching $66.87. The company's stock had a trading volume of 1,153,344 shares, compared to its average volume of 977,277. 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 stock has a market capitalization of $6.67 billion, a PE ratio of 16.68 and a beta of 0.72. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. The business has a 50-day moving average price of $73.23 and a 200-day moving average price of $79.65.

Toro Announces Dividend

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

Wall Street Analyst Weigh In

TTC has been the topic of several research analyst reports. StockNews.com cut Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Robert W. Baird lowered their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. DA Davidson dropped their price objective 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. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Northland Securities raised shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target on the stock in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently 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.