Bessemer Group Inc. Sells 821 Shares of The Toro Company (NYSE:TTC)

Bessemer Group Inc. lessened its position in The Toro Company (NYSE:TTC) by 8.7% in the 4th quarter, Holdings Channel reports. The firm owned 8,638 shares of the company’s stock after selling 821 shares during the period. Bessemer Group Inc.’s holdings in Toro were worth $692,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Toro by 996,664.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company’s stock worth $39,410,000 after buying an additional 498,332 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Toro during the fourth quarter worth about $36,561,000. Victory Capital Management Inc. lifted its holdings in shares of 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 purchasing an additional 362,634 shares in the last quarter. Amundi grew its position in shares of Toro by 30.3% in the 4th 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, Norges Bank acquired a new stake in Toro during the 4th quarter worth approximately $12,379,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Price Performance

NYSE:TTC opened at $67.44 on Wednesday. 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 firm has a fifty day simple moving average of $74.55 and a 200 day simple moving average of $80.32. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. The stock has a market capitalization of $6.73 billion, a PE ratio of 16.82 and a beta of 0.72.

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Monday, March 31st. Toro’s payout ratio is currently 38.87%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TTC. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Robert W. Baird reduced their price target on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Raymond James lowered their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Finally, DA Davidson decreased their target price 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 investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Toro currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

Toro Company 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.