The Toro Company (NYSE:TTC) Stock Position Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of The Toro Company (NYSE:TTC - Free Report) by 411.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 464,609 shares of the company's stock after acquiring an additional 373,736 shares during the quarter. The Manufacturers Life Insurance Company owned 0.46% of Toro worth $37,215,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. LPL Financial LLC boosted its stake in shares of Toro by 33.6% during the 4th quarter. LPL Financial LLC now owns 57,435 shares of the company's stock valued at $4,601,000 after buying an additional 14,433 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 acquiring an additional 18,401 shares in the last quarter. Quantbot Technologies LP grew its holdings in Toro by 111.4% during the 4th quarter. Quantbot Technologies LP now owns 51,945 shares of the company's stock worth $4,161,000 after acquiring an additional 27,376 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Toro by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company's stock worth $95,123,000 after purchasing an additional 60,068 shares during the last quarter. Finally, Bell Asset Management Ltd lifted its position in shares of 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 purchasing an additional 32,661 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Toro Stock Performance

Shares of Toro stock traded up $0.27 during trading on Monday, hitting $70.94. 694,554 shares of the stock were exchanged, compared to its average volume of 976,413. The stock has a market cap of $7.08 billion, a PE ratio of 17.69 and a beta of 0.83. The stock's fifty day moving average is $71.24 and its 200 day moving average is $78.78. 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 quick ratio of 0.74 and a current ratio of 1.81.

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 dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.14%. Toro's dividend payout ratio is presently 38.87%.

Wall Street Analysts Forecast Growth

TTC has been the topic of several research reports. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. DA Davidson dropped their price target on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. StockNews.com downgraded shares of Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Northland Securities raised shares of 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 lowered their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $89.75.

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.