Insider Selling: Toromont Industries Ltd. (TSE:TIH) Senior Officer Sells 5,000 Shares of Stock

Toromont Industries Ltd. (TSE:TIH) Senior Officer Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of C$115.00, for a total transaction of C$575,000.00.

Jennifer Cochrane also recently made the following trade(s):

• On Friday, February 28th, Jennifer Cochrane sold 5,000 shares of Toromont Industries stock. The shares were sold at an average price of C$121.25, for a total value of C$606,250.00.

Toromont Industries Stock Performance

Shares of TIH opened at C$117.10 on Thursday. The stock has a market capitalization of C$9.55 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The business’s fifty day moving average price is C$118.24 and its 200 day moving average price is C$120.17. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. Toromont Industries Ltd. has a 12-month low of C$109.83 and a 12-month high of C$135.53.

Toromont Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s dividend payout ratio is currently 31.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TIH shares. National Bankshares upped their price target on Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Raymond James raised their price target on shares of Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Canaccord Genuity Group raised their target price on Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, CIBC boosted their price target on Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy” and a consensus price target of C$136.06.

Toromont Industries Company Profile

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.