Vanguard Group Inc. Lowers Stock Holdings in The Toro Company (NYSE:TTC)

Vanguard Group Inc. reduced its position in shares of The Toro Company (NYSE:TTC - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,325,172 shares of the company's stock after selling 32,864 shares during the quarter. Vanguard Group Inc. owned 10.26% of Toro worth $827,046,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Asset Planning Inc bought a new stake in shares of Toro during the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC boosted its stake in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock valued at $44,000 after purchasing an additional 362 shares during the last quarter. First Horizon Advisors Inc. increased 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 worth $65,000 after purchasing an additional 285 shares in the last quarter. PrairieView Partners LLC raised its stake in shares of Toro by 14.7% in the fourth quarter. PrairieView Partners LLC now owns 1,547 shares of the company's stock worth $123,000 after purchasing an additional 198 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its holdings in shares of Toro by 87.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company's stock valued at $133,000 after purchasing an additional 772 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TTC. 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 report on Monday, February 24th. Raymond James reduced their price target on shares of Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, December 20th. 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 report on Tuesday, March 11th. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Finally, StockNews.com cut Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.75.

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Toro Stock Performance

NYSE TTC traded up $0.95 during trading hours on Wednesday, hitting $73.52. 362,286 shares of the company's stock traded hands, compared to its average volume of 1,094,952. The Toro Company has a 52 week low of $71.23 and a 52 week high of $100.93. The firm has a market capitalization of $7.34 billion, a P/E ratio of 18.33 and a beta of 0.72. 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 business's fifty day moving average price is $78.54 and its two-hundred day moving average price is $81.82.

Toro declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors 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 annualized dividend and a yield of 2.07%. Toro's dividend payout ratio (DPR) is presently 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.