Ontario Teachers Pension Plan Board Purchases 16,706 Shares of The Toro Company (NYSE:TTC)

Ontario Teachers Pension Plan Board grew its position in The Toro Company (NYSE:TTC) by 119.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,672 shares of the company’s stock after buying an additional 16,706 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Toro were worth $2,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TTC. Asset Planning Inc bought a new stake in Toro during the fourth quarter valued at approximately $31,000. CIBC Private Wealth Group LLC raised its holdings in Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after purchasing an additional 127 shares during the period. Venturi Wealth Management LLC lifted its position in Toro by 195.7% during 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 in the last quarter. First Horizon Advisors Inc. grew its holdings in Toro by 54.6% during the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the period. Finally, Covestor Ltd increased its position in Toro by 60.5% in the fourth quarter. Covestor Ltd now owns 1,181 shares of the company’s stock worth $95,000 after buying an additional 445 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Stock Performance

Shares of Toro stock opened at $68.37 on Tuesday. 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 market cap of $6.82 billion, a P/E ratio of 17.05 and a beta of 0.72. The stock’s fifty day moving average price is $74.82 and its 200-day moving average price is $80.41. The Toro Company has a 12 month low of $62.34 and a 12 month high of $100.93.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, March 31st. Toro’s payout ratio is 38.87%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TTC. Robert W. Baird reduced their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Raymond James decreased their price target on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. DA Davidson dropped their price objective 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 Securities raised Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research note on Monday, February 24th. Finally, Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

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.