11,029 Shares in The Toro Company (NYSE:TTC) Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co acquired a new position in shares of The Toro Company (NYSE:TTC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,029 shares of the company’s stock, valued at approximately $883,000.

Several other hedge funds have also bought and sold shares of the business. Asset Planning Inc purchased a new position in shares of Toro during the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC raised its stake in Toro by 195.7% during the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after buying an additional 362 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock worth $65,000 after acquiring an additional 285 shares in the last quarter. PrairieView Partners LLC boosted its holdings in Toro by 14.7% in the fourth quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock worth $123,000 after acquiring an additional 198 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its stake in shares of Toro by 87.2% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company’s stock worth $133,000 after acquiring an additional 772 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. DA Davidson dropped 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. StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Robert W. Baird decreased 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. Finally, Raymond James cut their target price on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Three 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 data from MarketBeat.com, Toro currently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Stock Performance

Shares of TTC stock opened at $73.29 on Monday. 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 company has a 50 day moving average price of $79.00 and a 200-day moving average price of $81.97. The Toro Company has a 52 week low of $71.23 and a 52 week high of $100.93. The firm has a market capitalization of $7.32 billion, a PE ratio of 18.28 and a beta of 0.70.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Monday, March 31st. Toro’s dividend payout ratio (DPR) is presently 38.87%.

Toro declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.