Crestline Management LP Makes New Investment in The Toro Company (NYSE:TTC)

Crestline Management LP purchased a new stake in The Toro Company (NYSE:TTC) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,351 shares of the company’s stock, valued at approximately $509,000.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC boosted its stake in Toro by 33.6% in the fourth quarter. LPL Financial LLC now owns 57,435 shares of the company’s stock valued at $4,601,000 after acquiring an additional 14,433 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Toro by 294.4% during 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 last quarter. Quantbot Technologies LP boosted its position in shares of Toro by 111.4% in the 4th quarter. Quantbot Technologies LP now owns 51,945 shares of the company’s stock worth $4,161,000 after purchasing an additional 27,376 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 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 buying an additional 60,068 shares during the last quarter. Finally, Bell Asset Management Ltd increased its position in Toro by 72.4% during the 4th quarter. Bell Asset Management Ltd now owns 77,756 shares of the company’s stock valued at $6,228,000 after buying an additional 32,661 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TTC. DA Davidson lowered their price target on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Robert W. Baird dropped their target price on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Monday, February 24th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Finally, StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Three investment 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 company. According to data from MarketBeat.com, Toro has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

Toro Stock Performance

Shares of NYSE TTC opened at $72.38 on Friday. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 18.05 and a beta of 0.83. The Toro Company has a 12 month low of $62.34 and a 12 month high of $100.93. The company has a 50 day simple moving average of $70.47 and a two-hundred day simple moving average of $78.40. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.10%. The ex-dividend date was Monday, March 31st. Toro’s payout ratio is 38.87%.

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.