Select Equity Group L.P. Has $392.97 Million Stake in The Toro Company (NYSE:TTC)

Select Equity Group L.P. lowered its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,905,975 shares of the company's stock after selling 488,646 shares during the period. Toro makes up 1.6% of Select Equity Group L.P.'s portfolio, making the stock its 24th biggest position. Select Equity Group L.P. owned approximately 4.88% of Toro worth $392,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in 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 last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Toro by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company's stock valued at $95,123,000 after purchasing an additional 60,068 shares in the last quarter. Amundi lifted its holdings in shares of Toro by 30.3% during the 4th quarter. Amundi now owns 1,121,116 shares of the company's stock valued at $89,701,000 after purchasing an additional 260,746 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Toro by 17.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company's stock valued at $88,152,000 after purchasing an additional 164,069 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Toro by 36.9% during the 4th quarter. Northern Trust Corp now owns 1,081,782 shares of the company's stock valued at $86,651,000 after purchasing an additional 291,593 shares in the last quarter. Institutional investors own 87.95% of the company's stock.

Toro Stock Performance

TTC stock traded down $0.08 during trading hours on Tuesday, reaching $76.78. The stock had a trading volume of 673,644 shares, compared to its average volume of 974,297. The stock has a market capitalization of $7.66 billion, a PE ratio of 19.15 and a beta of 0.83. 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 stock has a 50-day simple moving average of $70.69 and a 200 day simple moving average of $78.16. The Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $100.93.

Toro Dividend Announcement

The firm also recently announced 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.98%. Toro's payout ratio is presently 38.87%.

Analysts Set New Price Targets

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