Raymond James Financial Inc. Makes New Investment in The Toro Company (NYSE:TTC)

Raymond James Financial Inc. acquired a new position in The Toro Company (NYSE:TTC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 456,442 shares of the company’s stock, valued at approximately $36,561,000. Raymond James Financial Inc. owned approximately 0.45% of Toro at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TTC. LPL Financial LLC increased its stake in Toro by 33.6% in the 4th quarter. LPL Financial LLC now owns 57,435 shares of the company’s stock worth $4,601,000 after buying an additional 14,433 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Toro by 294.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 24,652 shares of the company’s stock worth $1,975,000 after purchasing an additional 18,401 shares in the last quarter. Quantbot Technologies LP raised its stake in Toro by 111.4% during the 4th quarter. Quantbot Technologies LP now owns 51,945 shares of the company’s stock valued at $4,161,000 after purchasing an additional 27,376 shares during the period. Bank of New York Mellon Corp lifted its holdings in Toro by 5.3% in 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 purchasing an additional 60,068 shares in the last quarter. Finally, Bell Asset Management Ltd boosted its stake in Toro by 72.4% in the 4th quarter. Bell Asset Management Ltd now owns 77,756 shares of the company’s stock worth $6,228,000 after purchasing an additional 32,661 shares during the period. 87.95% of the stock is currently owned by institutional investors.

Toro Price Performance

TTC stock opened at $66.52 on Thursday. The Toro Company has a 52 week low of $62.34 and a 52 week high of $100.93. The firm has a market capitalization of $6.64 billion, a P/E ratio of 16.59 and a beta of 0.72. The company has a fifty day simple moving average of $74.28 and a two-hundred day simple moving average of $80.23. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.52 annualized dividend and a yield of 2.29%. Toro’s dividend payout ratio is currently 38.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TTC shares. DA Davidson reduced their price objective 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. StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Raymond James dropped their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Finally, Robert W. Baird decreased their target price on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Toro currently has a consensus rating of “Moderate Buy” and a consensus price target 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.