Toromont Industries Ltd. (TSE:TIH) Senior Officer Jennifer Cochrane Sells 5,000 Shares

Toromont Industries Ltd. (TSE:TIH) Senior Officer Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$121.25, for a total transaction of C$606,250.00.

Toromont Industries Stock Down 3.0 %

TSE:TIH traded down C$3.64 during mid-day trading on Tuesday, hitting C$116.84. 48,840 shares of the company’s stock traded hands, compared to its average volume of 147,815. Toromont Industries Ltd. has a twelve month low of C$109.83 and a twelve month high of C$135.53. The company has a market capitalization of C$9.53 billion, a P/E ratio of 18.97, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The company has a fifty day moving average of C$117.76 and a 200 day moving average of C$120.71.

Toromont Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.78%. Toromont Industries’s dividend payout ratio is presently 31.18%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. BMO Capital Markets boosted their price target on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. CIBC raised their price objective on Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Raymond James boosted their target price on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$136.06.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.