The Toro Company (NYSE:TTC) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lessened its stake in shares of The Toro Company (NYSE:TTC) by 77.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,474 shares of the company’s stock after selling 43,247 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Toro were worth $999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asset Planning Inc purchased a new position in Toro in the 4th quarter worth approximately $31,000. CIBC Private Wealth Group LLC lifted its position in shares of Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after purchasing an additional 127 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after purchasing an additional 362 shares during the period. First Horizon Advisors Inc. grew its holdings in Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares in the last quarter. Finally, PrairieView Partners LLC increased its stake in Toro by 14.7% during the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock worth $123,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Trading Down 3.1 %

NYSE:TTC opened at $65.63 on Friday. The Toro Company has a 52 week low of $63.71 and a 52 week 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. The company has a market cap of $6.55 billion, a PE ratio of 16.37 and a beta of 0.72. The business’s 50 day moving average is $77.56 and its two-hundred day moving average is $81.50.

Toro declared that its board has initiated a share buyback program on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, March 31st. Toro’s dividend payout ratio is presently 38.87%.

Analyst Ratings Changes

TTC has been the subject of several recent analyst reports. DA Davidson lowered their target price on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Raymond James dropped their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Robert W. Baird reduced their target price on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Toro presently has an average rating of “Moderate Buy” and an average target price 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.