Envestnet Asset Management Inc. raised its position in Toro Co (NYSE:TTC) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,451 shares of the company’s stock after purchasing an additional 3,034 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Toro were worth $2,247,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Lombard Odier Asset Management Switzerland SA grew its stake in Toro by 50.0% in the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 150,000 shares of the company’s stock worth $9,785,000 after acquiring an additional 50,000 shares in the last quarter. Schroder Investment Management Group grew its stake in Toro by 51.9% in the 3rd quarter. Schroder Investment Management Group now owns 162,983 shares of the company’s stock worth $10,084,000 after acquiring an additional 55,702 shares in the last quarter. BlackRock Inc. grew its stake in Toro by 2.3% in the 4th quarter. BlackRock Inc. now owns 9,014,257 shares of the company’s stock worth $587,999,000 after acquiring an additional 204,035 shares in the last quarter. Lazard Asset Management LLC grew its stake in Toro by 4.9% in the 4th quarter. Lazard Asset Management LLC now owns 494,470 shares of the company’s stock worth $32,253,000 after acquiring an additional 23,195 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Toro by 14.0% in the 4th quarter. M&T Bank Corp now owns 11,834 shares of the company’s stock worth $772,000 after acquiring an additional 1,452 shares in the last quarter. 75.50% of the stock is currently owned by institutional investors.
Shares of TTC stock opened at $60.51 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.81 and a current ratio of 1.57. The stock has a market capitalization of $6,664.25, a price-to-earnings ratio of 25.11, a P/E/G ratio of 2.34 and a beta of 0.64. Toro Co has a one year low of $58.39 and a one year high of $73.86.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, April 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.32%. Toro’s dividend payout ratio is currently 33.20%.
In other news, VP Richard W. Rodier sold 4,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.67, for a total transaction of $258,680.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard W. Rodier sold 3,000 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $63.27, for a total transaction of $189,810.00. Following the transaction, the vice president now owns 26,122 shares in the company, valued at $1,652,738.94. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 87,000 shares of company stock worth $11,910 and have sold 23,200 shares worth $1,465,864. 5.69% of the stock is currently owned by company insiders.
Separately, Zacks Investment Research upgraded shares of Toro from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Tuesday, January 23rd. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus price target of $71.00.
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The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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