Ontario Teachers Pension Plan Board Boosts Position in The Toro Company (NYSE:TTC)

Ontario Teachers Pension Plan Board increased its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 119.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,672 shares of the company's stock after purchasing an additional 16,706 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Toro were worth $2,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TTC. Asset Planning Inc purchased a new position in Toro during the fourth quarter worth $31,000. CIBC Private Wealth Group LLC boosted its stake in shares of Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after purchasing an additional 127 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of 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. raised its position in Toro by 54.6% in 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. Finally, Covestor Ltd raised its position in Toro by 60.5% in the 4th quarter. Covestor Ltd now owns 1,181 shares of the company's stock worth $95,000 after purchasing an additional 445 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Stock Up 0.9 %

Toro stock traded up $0.59 during midday trading on Friday, reaching $67.09. The company's stock had a trading volume of 668,017 shares, compared to its average volume of 975,714. The Toro Company has a 52-week low of $62.34 and a 52-week high of $100.93. 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 capitalization of $6.70 billion, a P/E ratio of 16.73 and a beta of 0.72. The stock's 50-day simple moving average is $73.76 and its 200-day simple moving average is $79.91.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were paid a dividend of $0.38 per share. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Robert W. Baird cut 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 downgraded Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price for the company in a research report on Monday, February 24th. Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Finally, DA Davidson dropped their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, two have assigned 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.