Wells Fargo & Company MN Purchases 73,300 Shares of The Toro Company (NYSE:TTC)

Wells Fargo & Company MN grew its holdings in shares of The Toro Company (NYSE:TTC) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 684,623 shares of the company’s stock after buying an additional 73,300 shares during the quarter. Wells Fargo & Company MN owned 0.68% of Toro worth $54,838,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TTC. HighTower Advisors LLC lifted its stake in shares of Toro by 8.2% during the 3rd quarter. HighTower Advisors LLC now owns 8,447 shares of the company’s stock valued at $726,000 after buying an additional 641 shares in the last quarter. IHT Wealth Management LLC grew its holdings in Toro by 40.9% in the 3rd quarter. IHT Wealth Management LLC now owns 3,047 shares of the company’s stock worth $264,000 after acquiring an additional 885 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Toro by 153.4% in the 3rd quarter. Quantinno Capital Management LP now owns 28,627 shares of the company’s stock worth $2,483,000 after purchasing an additional 17,330 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Toro by 14.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 30,419 shares of the company’s stock worth $2,638,000 after buying an additional 3,800 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Toro by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock worth $169,639,000 after acquiring an additional 29,105 shares during the period. 87.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TTC shares. DA Davidson lowered their target price on shares of Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. StockNews.com cut shares of Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Monday, February 24th. Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. 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 report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toro currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Trading Up 8.6 %

Shares of TTC stock opened at $68.97 on Thursday. The business’s fifty day moving average price is $75.61 and its 200 day moving average price is $80.85. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. The firm has a market capitalization of $6.88 billion, a PE ratio of 17.20 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Monday, March 31st. Toro’s dividend payout ratio is currently 38.87%.

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.