The Toro Company (NYSE:TTC) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI raised its stake in shares of The Toro Company (NYSE:TTC) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,418 shares of the company’s stock after purchasing an additional 355 shares during the period. National Bank of Canada FI’s holdings in Toro were worth $274,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TTC. HighTower Advisors LLC raised its position in shares of Toro by 8.2% in the 3rd quarter. HighTower Advisors LLC now owns 8,447 shares of the company’s stock worth $726,000 after buying an additional 641 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Toro by 14.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 30,419 shares of the company’s stock worth $2,638,000 after purchasing an additional 3,800 shares during the period. Geode Capital Management LLC raised its holdings in shares of Toro by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock worth $169,639,000 after purchasing an additional 29,105 shares during the period. Toronto Dominion Bank grew its holdings in shares of Toro by 30.5% during the 3rd quarter. Toronto Dominion Bank now owns 13,129 shares of the company’s stock worth $1,139,000 after purchasing an additional 3,069 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Toro during the 3rd quarter worth approximately $592,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Stock Performance

Shares of TTC stock opened at $66.66 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 company’s fifty day moving average price is $75.33 and its two-hundred day moving average price is $80.71. The firm has a market capitalization of $6.65 billion, a P/E ratio of 16.62 and a beta of 0.72. The Toro Company has a 12 month low of $62.34 and a 12 month high of $100.93.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, March 31st. Toro’s dividend payout ratio is currently 38.87%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TTC. StockNews.com cut shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Robert W. Baird reduced their target price on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Raymond James lowered their price target on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Northland Securities upgraded 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. Finally, DA Davidson dropped their target price on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Three research 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. Based on data from MarketBeat.com, Toro currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Company 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.