Nomura Holdings Inc. Purchases New Position in The Toro Company (NYSE:TTC)

Nomura Holdings Inc. purchased a new stake in The Toro Company (NYSE:TTC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,616 shares of the company’s stock, valued at approximately $1,091,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TTC. Asset Planning Inc acquired a new position in Toro in the 4th quarter valued at about $31,000. CIBC Private Wealth Group LLC grew its stake in Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock valued at $43,000 after buying an additional 127 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after buying an additional 362 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after buying an additional 285 shares during the last quarter. Finally, Covestor Ltd grew its stake in Toro by 60.5% in the 4th quarter. Covestor Ltd now owns 1,181 shares of the company’s stock valued at $95,000 after buying an additional 445 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Stock Up 1.8%

NYSE TTC opened at $77.86 on Monday. The business has a fifty day moving average price of $70.52 and a two-hundred day moving average price of $78.20. 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 Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $100.93. The stock has a market capitalization of $7.77 billion, a PE ratio of 19.42 and a beta of 0.83.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, March 31st. Toro’s payout ratio is presently 38.87%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TTC shares. Robert W. Baird decreased their target price on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. DA Davidson decreased their target price 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. Finally, Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Monday, February 24th. Three equities research 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 stock. Based on data from MarketBeat.com, the company currently 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.