Ameriprise Financial Inc. Increases Position in The Toro Company (NYSE:TTC)

Ameriprise Financial Inc. boosted its holdings in The Toro Company (NYSE:TTC) by 172.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 368,368 shares of the company’s stock after purchasing an additional 233,397 shares during the quarter. Ameriprise Financial Inc.’s holdings in Toro were worth $29,508,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TTC. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Toro by 45.5% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company’s stock valued at $563,207,000 after acquiring an additional 2,199,920 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Toro by 996,664.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock worth $39,410,000 after buying an additional 498,332 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Toro during the 4th quarter worth $36,561,000. The Manufacturers Life Insurance Company boosted its holdings in Toro by 411.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 464,609 shares of the company’s stock worth $37,215,000 after buying an additional 373,736 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Toro by 693.0% during the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company’s stock valued at $33,238,000 after acquiring an additional 362,634 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TTC has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on shares of 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 downgraded shares of Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. DA Davidson dropped their target price on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. 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. Finally, Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Toro Trading Up 0.1%

Shares of NYSE:TTC opened at $75.88 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 18.92 and a beta of 0.83. The company has a 50 day moving average price of $70.42 and a 200 day moving average price of $78.33. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93.

Toro Announces Dividend

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. The ex-dividend date was Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.00%. Toro’s payout ratio is 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.