Corebridge Financial Inc. Sells 6,727 Shares of The Toro Company (NYSE:TTC)

Corebridge Financial Inc. trimmed its position in shares of The Toro Company (NYSE:TTC) by 5.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 116,112 shares of the company’s stock after selling 6,727 shares during the quarter. Corebridge Financial Inc.’s holdings in Toro were worth $9,301,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Toro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock valued at $169,639,000 after buying an additional 29,105 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Toro by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock valued at $95,123,000 after purchasing an additional 60,068 shares during the last quarter. Amundi boosted its position in Toro by 30.3% during the fourth quarter. Amundi now owns 1,121,116 shares of the company’s stock worth $89,701,000 after purchasing an additional 260,746 shares during the period. King Luther Capital Management Corp increased its stake in shares of Toro by 3.6% in the fourth quarter. King Luther Capital Management Corp now owns 1,043,833 shares of the company’s stock worth $83,611,000 after purchasing an additional 36,750 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Toro by 3.2% in the fourth quarter. US Bancorp DE now owns 799,385 shares of the company’s stock valued at $64,031,000 after purchasing an additional 24,596 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Price Performance

NYSE:TTC opened at $74.86 on Friday. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 18.67 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The stock has a fifty day moving average of $79.20 and a 200 day moving average of $82.04. The Toro Company has a 52-week low of $71.23 and a 52-week high of $100.93.

Toro announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders 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 2.03%. The ex-dividend date of this dividend is Monday, March 31st. Toro’s payout ratio is 38.87%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Monday, February 24th. StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Raymond James decreased their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Robert W. Baird cut 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, Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.