Vanguard Discloses 10.0% Stake in Toro Co. as of Dec 29, 2023

TL;DR

**Vanguard still owns 10.0% of Toro Co., showing continued institutional confidence.**

AI Summary

The Vanguard Group, a major investment firm, filed an amendment (SC 13G/A) on February 13, 2024, indicating its ownership of 10,776,289 shares of The Toro Company's common stock as of December 29, 2023. This represents a 10.0% beneficial ownership stake in Toro Co. This filing is important for investors because it shows that a large, institutional investor like Vanguard maintains a significant, albeit slightly reduced, position in Toro, signaling continued confidence in the company's long-term prospects.

Why It Matters

This filing confirms Vanguard's substantial, passive investment in Toro Co., which can reassure investors about the stock's stability and institutional backing.

Risk Assessment

Risk Level: low — This filing indicates a passive, institutional ownership stake, which generally reduces volatility and risk for other investors.

Analyst Insight

A smart investor would note Vanguard's continued, significant ownership as a sign of long-term institutional confidence in Toro Co., but recognize this is a passive stake and not an activist position.

Key Numbers

• 10,776,289 — Shares Beneficially Owned (Represents Vanguard's significant stake in Toro Co.)
• 10.0% — Percentage of Class (Indicates Vanguard's substantial influence as a shareholder.)
• December 29, 2023 — Date of Event (The snapshot date for Vanguard's reported ownership.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and major institutional investor
• Toro Co/The (company) — subject company whose shares are being reported
• 10,776,289 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 10.0% (dollar_amount) — percentage of beneficial ownership by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, passive stake in Toro Co. throughout 2024. (The Vanguard Group) — high confidence, target: December 31, 2024
• Toro Co.'s stock will likely experience stable institutional support due to Vanguard's continued ownership. (Toro Co.) — medium confidence, target: June 30, 2024

FAQ

Filing Documents

• tv02088-torocothe.htm (SC 13G/A) — 11KB
• 0001104659-24-022111.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Toro Co/The

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 8111 Lyndale Avenue South Bloomington, MN 55420-1196

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 891092108

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration