The Toro Company (NYSE:TTC) Shares Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. increased its position in shares of The Toro Company (NYSE:TTC - Free Report) by 42.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,106 shares of the company's stock after buying an additional 11,703 shares during the period. Pinebridge Investments L.P.'s holdings in Toro were worth $3,132,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TTC. Asset Planning Inc purchased a new stake in shares of Toro during the fourth quarter worth about $31,000. CIBC Private Wealth Group LLC increased its holdings in Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after purchasing an additional 127 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock worth $44,000 after purchasing an additional 362 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after buying an additional 285 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Toro by 60.5% during the 4th quarter. Covestor Ltd now owns 1,181 shares of the company's stock valued at $95,000 after buying an additional 445 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Analyst Upgrades and Downgrades

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

Toro Stock Performance

Shares of NYSE:TTC traded down $1.01 during trading on Wednesday, hitting $67.53. 272,615 shares of the company traded hands, compared to its average volume of 972,288. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The business's fifty day moving average is $71.90 and its 200-day moving average is $79.12. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 16.84 and a beta of 0.72. The Toro Company has a one year low of $62.34 and a one year high of $100.93.

Toro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Monday, March 31st. Toro's dividend payout ratio is presently 38.87%.

Toro Profile

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.