The Toro Company (NYSE:TTC) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. boosted its holdings in The Toro Company (NYSE:TTC - Free Report) by 211.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 105,202 shares of the company's stock after buying an additional 71,452 shares during the period. Prudential Financial Inc. owned 0.10% of Toro worth $8,517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TTC. Asset Planning Inc acquired a new stake in shares of Toro in the fourth quarter worth approximately $31,000. Venturi Wealth Management LLC raised its stake in Toro by 195.7% during the fourth 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. boosted its holdings in shares of Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after purchasing an additional 285 shares during the last quarter. PrairieView Partners LLC grew 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 period. Finally, Eagle Bay Advisors LLC increased its holdings in shares of Toro by 87.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company's stock worth $133,000 after buying an additional 772 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

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Toro Stock Down 0.3 %

NYSE TTC traded down $0.24 on Tuesday, reaching $72.51. The company had a trading volume of 1,431,315 shares, compared to its average volume of 949,901. 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 Toro Company has a 1 year low of $71.23 and a 1 year high of $100.93. The firm has a 50-day moving average of $78.78 and a 200-day moving average of $81.90. The firm has a market capitalization of $7.24 billion, a PE ratio of 18.08 and a beta of 0.70.

Toro announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, March 31st. Toro's dividend payout ratio (DPR) is 38.87%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TTC. Raymond James lowered their price target on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, December 20th. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Robert W. Baird cut their price target on shares of Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. DA Davidson reduced their price target on shares of Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Finally, Northland Securities raised shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective for the company in a research report on Monday, February 24th. Three investment 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 company's stock. According to data from MarketBeat.com, Toro currently has an average rating of "Moderate Buy" and an average target price of $89.75.

Toro 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.