Nuance Investments LLC Boosts Holdings in The Toro Company (NYSE:TTC)

Nuance Investments LLC raised its position in The Toro Company (NYSE:TTC) by 14.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 386,160 shares of the company’s stock after acquiring an additional 50,103 shares during the period. Toro makes up about 1.2% of Nuance Investments LLC’s holdings, making the stock its 22nd largest holding. Nuance Investments LLC’s holdings in Toro were worth $30,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TTC. Allspring Global Investments Holdings LLC boosted its position in shares of Toro by 996,664.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock valued at $39,410,000 after acquiring an additional 498,332 shares during the period. Raymond James Financial Inc. purchased a new position in Toro in the 4th quarter worth $36,561,000. Victory Capital Management Inc. boosted its holdings in Toro by 693.0% during the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company’s stock valued at $33,238,000 after acquiring an additional 362,634 shares during the period. Amundi boosted its stake in shares of Toro by 30.3% during the fourth quarter. Amundi now owns 1,121,116 shares of the company’s stock valued at $89,701,000 after purchasing an additional 260,746 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its holdings in Toro by 71.2% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 217,739 shares of the company’s stock worth $18,885,000 after acquiring an additional 90,538 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Price Performance

TTC opened at $74.55 on Wednesday. The Toro Company has a 1 year low of $71.23 and a 1 year high of $100.93. The firm has a market capitalization of $7.44 billion, a PE ratio of 18.59 and a beta of 0.70. 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 business’s 50-day moving average is $79.50 and its two-hundred day moving average is $82.14.

Toro declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, March 31st. Toro’s dividend payout ratio is presently 38.87%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TTC. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Monday, February 24th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. StockNews.com cut shares of Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Robert W. Baird dropped their price target on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, DA Davidson cut their price objective on shares of Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Three 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Toro 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.