Wells Fargo & Company MN boosted its stake in The Toro Company (NYSE:TTC - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 684,623 shares of the company's stock after purchasing an additional 73,300 shares during the period. Wells Fargo & Company MN owned approximately 0.68% of Toro worth $54,838,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Toro by 0.8% in the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company's stock worth $1,225,000 after acquiring an additional 120 shares during the period. Lowe Brockenbrough & Co. Inc. grew its stake 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 purchasing an additional 127 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock valued at $43,000 after purchasing an additional 127 shares during the last quarter. Northwest Financial Advisors lifted its stake in shares of Toro by 2.0% in the 4th quarter. Northwest Financial Advisors now owns 6,945 shares of the company's stock worth $556,000 after purchasing an additional 139 shares during the period. Finally, Savant Capital LLC boosted its holdings in shares of Toro by 5.0% in the fourth quarter. Savant Capital LLC now owns 3,293 shares of the company's stock worth $264,000 after buying an additional 158 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. 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. Robert W. Baird cut their price objective on Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. StockNews.com cut shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Raymond James dropped their price target on shares of Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, December 20th. Finally, Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toro has a consensus rating of "Moderate Buy" and a consensus price target of $89.75.
Read Our Latest Analysis on TTC
Toro Price Performance
Shares of Toro stock traded down $0.77 during trading hours on Tuesday, reaching $67.57. The company's stock had a trading volume of 203,843 shares, compared to its average volume of 969,622. The stock has a market cap of $6.74 billion, a P/E ratio of 16.85 and a beta of 0.72. The firm has a 50 day moving average price of $74.82 and a 200-day moving average price of $80.41. The Toro Company has a one year low of $62.34 and a one year high of $100.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.
Toro Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.25%. Toro's dividend payout ratio (DPR) is presently 38.87%.
Toro Profile
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Free Report)
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.
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