FORA Capital LLC Acquires 9,831 Shares of The Toro Company (NYSE:TTC)

FORA Capital LLC lifted its holdings in shares of The Toro Company (NYSE:TTC - Free Report) by 327.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,834 shares of the company's stock after acquiring an additional 9,831 shares during the period. FORA Capital LLC's holdings in Toro were worth $1,028,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. LPL Financial LLC lifted its stake in Toro by 33.6% during the fourth quarter. LPL Financial LLC now owns 57,435 shares of the company's stock worth $4,601,000 after purchasing an additional 14,433 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Toro by 294.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 24,652 shares of the company's stock worth $1,975,000 after buying an additional 18,401 shares during the period. Quantbot Technologies LP boosted its stake in Toro by 111.4% in the 4th quarter. Quantbot Technologies LP now owns 51,945 shares of the company's stock valued at $4,161,000 after buying an additional 27,376 shares in the last quarter. Bank of New York Mellon Corp grew its position in Toro by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company's stock valued at $95,123,000 after acquiring an additional 60,068 shares during the period. Finally, Bell Asset Management Ltd raised its stake in Toro by 72.4% during the fourth quarter. Bell Asset Management Ltd now owns 77,756 shares of the company's stock worth $6,228,000 after acquiring an additional 32,661 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. DA Davidson reduced their target price on shares of Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. 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 report on Friday, March 7th. StockNews.com downgraded Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Finally, Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective on the stock in a research note 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $89.75.

Toro Stock Performance

Shares of Toro stock opened at $72.38 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $70.47 and a 200 day simple moving average of $78.42. The Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $100.93. The firm has a market cap of $7.22 billion, a P/E ratio of 18.05 and a beta of 0.83.

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 given a dividend of $0.38 per share. 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 2.10%. Toro's payout ratio is currently 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.

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