Ameriprise Financial Inc. Purchases 233,397 Shares of The Toro Company (NYSE:TTC)

Ameriprise Financial Inc. raised its stake in The Toro Company (NYSE:TTC - Free Report) by 172.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 368,368 shares of the company's stock after buying an additional 233,397 shares during the quarter. Ameriprise Financial Inc. owned about 0.37% of Toro worth $29,508,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Toro by 45.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock worth $563,207,000 after buying an additional 2,199,920 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Toro by 996,664.0% during the fourth 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 during the period. Raymond James Financial Inc. acquired a new position in shares of Toro during the fourth quarter worth about $36,561,000. The Manufacturers Life Insurance Company boosted its position in shares of 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 during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Toro by 693.0% during the fourth quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock worth $33,238,000 after buying an additional 362,634 shares during the period. Institutional investors own 87.95% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TTC. DA Davidson reduced their price target on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target for the company in a research report on Monday, February 24th. Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Robert W. Baird reduced their price target on Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, StockNews.com cut Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Toro currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.75.

Toro Stock Performance

Shares of TTC traded down $0.96 during mid-day trading on Monday, reaching $76.84. The company's stock had a trading volume of 666,787 shares, compared to its average volume of 977,078. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. The stock has a market cap of $7.67 billion, a P/E ratio of 19.16 and a beta of 0.83. The business has a 50-day simple moving average of $70.59 and a two-hundred day simple moving average of $78.17. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.98%. 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.