Corebridge Financial Inc. Has $9.30 Million Stock Position in The Toro Company (NYSE:TTC)

Corebridge Financial Inc. cut its position in The Toro Company (NYSE:TTC) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,112 shares of the company’s stock after selling 6,727 shares during the period. Corebridge Financial Inc. owned 0.12% of Toro worth $9,301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in Toro by 0.8% in the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock valued at $1,225,000 after acquiring an additional 120 shares during the period. Lowe Brockenbrough & Co. Inc. grew its position in Toro by 1.1% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 11,473 shares of the company’s stock valued at $923,000 after purchasing an additional 127 shares during the period. Northwest Financial Advisors increased its stake in Toro by 2.0% during the 4th quarter. Northwest Financial Advisors now owns 6,945 shares of the company’s stock valued at $556,000 after purchasing an additional 139 shares in the last quarter. Savant Capital LLC raised its holdings in Toro by 5.0% during the fourth quarter. Savant Capital LLC now owns 3,293 shares of the company’s stock worth $264,000 after buying an additional 158 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Toro by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 3,216 shares of the company’s stock valued at $258,000 after buying an additional 164 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TTC has been the subject of several recent research reports. StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Northland Securities raised 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. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Robert W. Baird cut 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. Finally, 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 report on Friday, December 20th. Three 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.75.

Toro Stock Performance

TTC stock opened at $74.86 on Friday. The business has a 50 day moving average of $79.20 and a 200-day moving average of $82.04. The firm has a market cap of $7.47 billion, a PE ratio of 18.67 and a beta of 0.70. The Toro Company has a 12-month low of $71.23 and a 12-month high of $100.93. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders 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 dividend yield of 2.03%. The ex-dividend date is Monday, March 31st. Toro’s dividend payout ratio is presently 38.87%.

Toro declared that its board has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.