The Toro Company (NYSE:TTC) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 54.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,972 shares of the company's stock after buying an additional 75,147 shares during the quarter. Sei Investments Co. owned about 0.21% of Toro worth $17,059,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Citigroup Inc. increased its holdings in shares of Toro by 27.1% in the third quarter. Citigroup Inc. now owns 69,580 shares of the company's stock valued at $6,035,000 after purchasing an additional 14,826 shares during the period. Cerity Partners LLC boosted its position in Toro by 49.1% in the third quarter. Cerity Partners LLC now owns 36,927 shares of the company's stock valued at $3,203,000 after buying an additional 12,157 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Toro by 6.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company's stock worth $676,000 after buying an additional 500 shares during the period. Quantbot Technologies LP raised its position in Toro by 57.7% during the 3rd quarter. Quantbot Technologies LP now owns 24,569 shares of the company's stock worth $2,131,000 after buying an additional 8,986 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Toro by 59.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,621 shares of the company's stock worth $4,824,000 after buying an additional 20,783 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on TTC. Robert W. Baird cut their price objective 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. DA Davidson lowered their price target on shares of Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective for the company in a research note on Monday, February 24th. StockNews.com cut Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Finally, Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.75.

Toro Price Performance

Shares of Toro stock traded down $0.24 during trading hours on Tuesday, reaching $72.51. The stock had a trading volume of 1,431,315 shares, compared to its average volume of 951,927. The Toro Company has a twelve month low of $71.23 and a twelve month high of $100.93. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $7.24 billion, a PE ratio of 18.08 and a beta of 0.70. The stock's 50 day moving average is $78.54 and its 200 day moving average is $81.82.

Toro declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given 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 yield of 2.10%. Toro's dividend 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.