Pictet Asset Management Holding SA Grows Stock Position in The Toro Company (NYSE:TTC)

Pictet Asset Management Holding SA grew its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 8.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,945 shares of the company's stock after purchasing an additional 5,429 shares during the period. Pictet Asset Management Holding SA owned approximately 0.07% of Toro worth $5,843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Toro by 0.8% during the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company's stock worth $1,225,000 after buying an additional 120 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its position in shares of Toro by 1.1% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 11,473 shares of the company's stock valued at $923,000 after acquiring an additional 127 shares during the period. Northwest Financial Advisors boosted its stake in shares of Toro by 2.0% during the 4th quarter. Northwest Financial Advisors now owns 6,945 shares of the company's stock worth $556,000 after acquiring an additional 139 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Toro by 5.0% in the 4th quarter. Savant Capital LLC now owns 3,293 shares of the company's stock worth $264,000 after acquiring an additional 158 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Toro by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 3,216 shares of the company's stock valued at $258,000 after purchasing an additional 164 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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Toro Price Performance

TTC stock traded down $0.97 during trading on Tuesday, hitting $63.36. The stock had a trading volume of 1,473,811 shares, compared to its average volume of 966,303. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 15.80 and a beta of 0.72. The company's 50 day moving average price is $76.21 and its two-hundred day moving average price is $81.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, March 31st. Toro's payout ratio is 38.87%.

Toro announced that its board has approved a stock buyback program on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Robert W. Baird decreased their target price on 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 lowered 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. Raymond James dropped their target price on shares of Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. 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 report on Monday, February 24th. Finally, StockNews.com cut shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Three equities research 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 stock. Based on data from MarketBeat, the stock currently has an average 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.