The Toro Company (NYSE:TTC) Position Lifted by National Bank of Canada FI

National Bank of Canada FI grew its stake in shares of The Toro Company (NYSE:TTC) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,418 shares of the company’s stock after acquiring 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 quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Planning Inc acquired a new position in Toro in the fourth quarter worth about $31,000. Venturi Wealth Management LLC grew its position in shares of Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after acquiring an additional 362 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after acquiring an additional 127 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after acquiring an additional 285 shares during the last quarter. Finally, PrairieView Partners LLC raised its position in shares of Toro by 14.7% during the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock valued at $123,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in 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 price objective 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 Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Raymond James dropped their price target on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Finally, Robert W. Baird lowered their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.75.

Toro Stock Performance

TTC opened at $66.66 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $75.33 and its 200-day moving average is $80.71. The stock has a market cap of $6.65 billion, a PE ratio of 16.62 and a beta of 0.72. The Toro Company has a twelve month low of $62.34 and a twelve month high of $100.93.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given 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 yield of 2.28%. Toro’s dividend payout ratio (DPR) is presently 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.