The Toro Company (NYSE:TTC) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 42.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,106 shares of the company's stock after purchasing an additional 11,703 shares during the period. Pinebridge Investments L.P.'s holdings in Toro were worth $3,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTC. Virtu Financial LLC purchased a new position in Toro during the third quarter valued at $592,000. SkyView Investment Advisors LLC lifted its holdings in Toro by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 10,168 shares of the company's stock valued at $882,000 after purchasing an additional 298 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Toro by 79.2% in the third quarter. Tidal Investments LLC now owns 17,646 shares of the company's stock worth $1,530,000 after buying an additional 7,798 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Toro by 27.8% in the third quarter. Franklin Resources Inc. now owns 47,912 shares of the company's stock worth $3,989,000 after buying an additional 10,409 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of Toro in the fourth quarter worth about $208,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TTC. Robert W. Baird decreased their price target on shares of Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. 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. StockNews.com downgraded shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Finally, DA Davidson cut their price objective on shares of Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toro presently has an average rating of "Moderate Buy" and an average price target of $89.75.

Toro Trading Up 1.1 %

Toro stock traded up $0.74 during midday trading on Monday, hitting $68.77. 943,689 shares of the stock were exchanged, compared to its average volume of 973,161. The Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $100.93. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 17.15 and a beta of 0.72. The stock's 50-day simple moving average is $72.16 and its 200 day simple moving average is $79.19. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Toro Dividend Announcement

The company 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. This represents a $1.52 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, March 31st. Toro's payout ratio is currently 38.87%.

About Toro

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.