Allstate Corp Makes New $253,000 Investment in The Toro Company (NYSE:TTC)

Allstate Corp purchased a new stake in shares of The Toro Company (NYSE:TTC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,154 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Toro by 0.8% during the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock valued at $1,225,000 after buying an additional 120 shares in the last quarter. Lowe Brockenbrough & Co. Inc. boosted its position in shares of Toro by 1.1% during 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 in the last quarter. Northwest Financial Advisors boosted its position in shares of 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 grew its stake in shares of Toro by 5.0% in the 4th quarter. Savant Capital LLC now owns 3,293 shares of the company’s stock worth $264,000 after purchasing an additional 158 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Toro by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 3,216 shares of the company’s stock worth $258,000 after purchasing an additional 164 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on TTC. DA Davidson decreased their price target 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. 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 report on Friday, March 7th. StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Raymond James decreased their target price 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. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.75.

Toro Stock Up 1.8 %

Shares of Toro stock opened at $73.91 on Thursday. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The Toro Company has a 1 year low of $71.23 and a 1 year high of $100.93. The stock has a 50-day moving average price of $78.34 and a 200 day moving average price of $81.76. The company has a market cap of $7.38 billion, a P/E ratio of 18.43 and a beta of 0.72.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, March 31st. Toro’s dividend payout ratio is currently 38.87%.

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

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.