Nomura Holdings Inc. Purchases Shares of 13,616 The Toro Company (NYSE:TTC)

Nomura Holdings Inc. purchased a new stake in shares of The Toro Company (NYSE:TTC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,616 shares of the company's stock, valued at approximately $1,091,000.

A number of other hedge funds also recently bought and sold shares of TTC. Pacer Advisors Inc. raised its position in shares of Toro by 0.8% during the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company's stock valued at $1,225,000 after buying an additional 120 shares during the last quarter. Lowe Brockenbrough & Co. Inc. raised its position in Toro by 1.1% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 11,473 shares of the company's stock worth $923,000 after purchasing an additional 127 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Toro by 30.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after purchasing an additional 127 shares in the last quarter. Northwest Financial Advisors increased its holdings in shares of Toro by 2.0% during the fourth quarter. Northwest Financial Advisors now owns 6,945 shares of the company's stock worth $556,000 after buying an additional 139 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in shares of Toro by 5.0% during 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 in the last quarter. 87.95% of the stock is currently owned by institutional investors.

Toro Trading Down 1.5%

Shares of NYSE TTC traded down $1.10 during midday trading on Friday, reaching $73.87. 862,059 shares of the stock were exchanged, compared to its average volume of 966,092. The business has a 50-day simple moving average of $70.77 and a two-hundred day simple moving average of $77.98. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 18.42 and a beta of 0.83. The Toro Company has a 12 month low of $62.34 and a 12 month 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.06%. Toro's payout ratio is 38.87%.

Analyst Ratings Changes

Several research firms have recently weighed in on TTC. DA Davidson dropped their price objective on shares of Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Robert W. Baird decreased their price target 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. Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Wall Street Zen cut shares of Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Finally, Northland Securities upgraded shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price for the company in a research report on Monday, February 24th. Three equities research 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 company's stock. According to data from MarketBeat, Toro presently has a consensus rating of "Moderate Buy" and an average price target of $89.75.

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.