Bell Asset Management Ltd Purchases 32,661 Shares of The Toro Company (NYSE:TTC)

Bell Asset Management Ltd increased its position in The Toro Company (NYSE:TTC) by 72.4% in the 4th quarter, Holdings Channel reports. The firm owned 77,756 shares of the company’s stock after buying an additional 32,661 shares during the quarter. Bell Asset Management Ltd’s holdings in Toro were worth $6,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Asset Planning Inc acquired a new stake in Toro in the 4th quarter valued at $31,000. Venturi Wealth Management LLC raised its stake in shares of Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after acquiring an additional 362 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after buying an additional 127 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Toro by 54.6% during the fourth 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 period. Finally, PrairieView Partners LLC boosted its stake in shares of Toro by 14.7% in the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock valued at $123,000 after purchasing an additional 198 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TTC has been the topic of a number of analyst reports. StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Robert W. Baird reduced their target price on 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 research note on Friday, December 20th. DA Davidson cut their price target on shares of Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.75.

Toro Trading Down 3.1 %

NYSE TTC opened at $65.63 on Monday. 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’s 50-day moving average is $77.56 and its 200-day moving average is $81.47. The Toro Company has a one year low of $63.71 and a one year high of $100.93. The firm has a market cap of $6.55 billion, a P/E ratio of 16.37 and a beta of 0.72.

Toro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, March 31st. Toro’s payout ratio is currently 38.87%.

Toro announced that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.