Toro Company (The) (NYSE:TTC) Announces Quarterly Dividend of $0.38

Toro Company (The) (NYSE:TTC) declared a quarterly dividend on Tuesday, September 23rd, RTT News reports. Investors of record on Tuesday, October 7th will be paid a dividend of 0.38 per share on Tuesday, October 21st. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, October 7th.

Toro has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Toro to earn $4.67 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 32.5%.

Toro Trading Down 0.8%

NYSE:TTC opened at $76.50 on Thursday. The firm has a market capitalization of $7.49 billion, a P/E ratio of 23.18 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.88 and a quick ratio of 0.79. Toro has a one year low of $62.34 and a one year high of $89.50. The company’s 50-day simple moving average is $77.37 and its 200 day simple moving average is $73.66.

Toro (NYSE:TTC) last released its earnings results on Thursday, September 4th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.02. Toro had a net margin of 7.37% and a return on equity of 28.98%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business earned $1.18 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. As a group, analysts forecast that Toro will post 4.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Toro

Hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its stake in Toro by 1.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company’s stock valued at $1,033,000 after purchasing an additional 173 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of Toro by 9.1% during the first quarter. Cornerstone Wealth Management LLC now owns 2,866 shares of the company’s stock worth $209,000 after purchasing an additional 240 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Toro by 94.1% during the first quarter. Brooklyn Investment Group now owns 495 shares of the company’s stock worth $36,000 after purchasing an additional 240 shares during the period. Values First Advisors Inc. increased its holdings in Toro by 1.2% in the 1st quarter. Values First Advisors Inc. now owns 20,312 shares of the company’s stock worth $1,479,000 after buying an additional 242 shares during the period. Finally, Versor Investments LP raised its position in Toro by 3.1% during the 1st quarter. Versor Investments LP now owns 8,400 shares of the company’s stock worth $611,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

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.