Voloridge Investment Management LLC Raises Stake in The Toro Company (NYSE:TTC)

Voloridge Investment Management LLC lifted its stake in The Toro Company (NYSE:TTC) by 37.3% during the fourth quarter, HoldingsChannel reports. The firm owned 290,126 shares of the company’s stock after purchasing an additional 78,751 shares during the period. Voloridge Investment Management LLC’s holdings in Toro were worth $23,239,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TTC. Pacer Advisors Inc. grew its stake in Toro by 0.8% in the 4th quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock worth $1,225,000 after acquiring an additional 120 shares in the last quarter. Lowe Brockenbrough & Co. Inc. grew its stake in Toro by 1.1% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 11,473 shares of the company’s stock worth $923,000 after purchasing an additional 127 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Toro by 30.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after purchasing an additional 127 shares in the last quarter. Northwest Financial Advisors increased its holdings in Toro by 2.0% during the 4th quarter. Northwest Financial Advisors now owns 6,945 shares of the company’s stock worth $556,000 after purchasing an additional 139 shares during the period. Finally, Savant Capital LLC raised its position in Toro by 5.0% during the 4th quarter. Savant Capital LLC now owns 3,293 shares of the company’s stock valued at $264,000 after purchasing an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Trading Down 2.5%

Shares of NYSE TTC opened at $74.82 on Thursday. The business has a fifty day moving average price of $70.72 and a 200 day moving average price of $78.14. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. 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 stock has a market capitalization of $7.47 billion, a P/E ratio of 18.66 and a beta of 0.83.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Tuesday, June 17th. Toro’s payout ratio is 38.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Monday, February 24th. StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Robert W. Baird cut 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. DA Davidson reduced their price target on shares of Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

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.