KLP Kapitalforvaltning AS Invests $3.93 Million in The Toro Company (NYSE:TTC)

KLP Kapitalforvaltning AS bought a new stake in 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 bought 48,900 shares of the company's stock, valued at approximately $3,933,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TTC. Asset Planning Inc acquired a new stake in shares of Toro in the fourth quarter worth $31,000. Venturi Wealth Management LLC grew its position in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock worth $44,000 after purchasing an additional 362 shares during the period. First Horizon Advisors Inc. grew its position in Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock worth $65,000 after purchasing an additional 285 shares during the period. PrairieView Partners LLC raised its stake in shares of Toro by 14.7% during the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company's stock valued at $123,000 after buying an additional 198 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its holdings in shares of Toro by 87.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company's stock valued at $133,000 after buying an additional 772 shares during the period. Institutional investors and hedge funds own 87.95% of the company's stock.

Toro Price Performance

Shares of TTC stock traded down $1.56 during trading hours on Friday, hitting $73.29. 821,667 shares of the company's stock were exchanged, compared to its average volume of 947,186. The Toro Company has a fifty-two week low of $71.23 and a fifty-two week high of $100.93. The firm has a market cap of $7.32 billion, a P/E ratio of 18.28 and a beta of 0.70. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $79.00 and a two-hundred day moving average of $81.97.

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Toro declared that its Board of Directors has authorized 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.07%. Toro's dividend payout ratio is currently 38.87%.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com lowered Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Raymond James lowered their price target on shares of Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. Northland Securities upgraded 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 report on Monday, February 24th. Finally, Robert W. Baird decreased their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, Toro has a consensus rating of "Moderate Buy" and an average 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.