HighPoint Advisor Group LLC Purchases 234 Shares of The Toro Company (NYSE:TTC)

HighPoint Advisor Group LLC boosted its position in The Toro Company (NYSE:TTC) by 9.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,777 shares of the company’s stock after purchasing an additional 234 shares during the period. HighPoint Advisor Group LLC’s holdings in Toro were worth $223,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd grew its holdings in shares of Toro by 101.6% in the third quarter. Point72 DIFC Ltd now owns 13,000 shares of the company’s stock valued at $1,127,000 after acquiring an additional 6,550 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Toro by 294.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,652 shares of the company’s stock valued at $1,975,000 after purchasing an additional 18,401 shares during the period. Quantbot Technologies LP increased its position in shares of Toro by 111.4% during the 4th quarter. Quantbot Technologies LP now owns 51,945 shares of the company’s stock valued at $4,161,000 after purchasing an additional 27,376 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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 worth $95,123,000 after purchasing an additional 60,068 shares during the period. Finally, Geode Capital Management LLC boosted 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 buying an additional 29,105 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TTC has been the topic of several research reports. Raymond James lowered their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. 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 objective on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a 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. Finally, Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Stock Down 8.3 %

Toro stock opened at $67.70 on Friday. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 16.88 and a beta of 0.72. The firm has a 50 day simple moving average of $77.96 and a 200 day simple moving average of $81.67. The Toro Company has a 1-year low of $67.68 and a 1-year high of $100.93. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Toro declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.25%. Toro’s payout ratio is 38.87%.

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.