Toromont Industries Ltd. (TSE:TIH) Director William John Harvey Sells 200 Shares of Stock

Toromont Industries Ltd. (TSE:TIH) Director William John Harvey sold 200 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of C$116.27, for a total transaction of C$23,254.00. Following the sale, the director now directly owns 979 shares in the company, valued at approximately C$113,828.33. The trade was a 16.96 % decrease in their position.

Toromont Industries Trading Up 1.1 %

Toromont Industries stock opened at C$115.45 on Thursday. Toromont Industries Ltd. has a one year low of C$109.83 and a one year high of C$135.53. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The firm has a 50-day moving average of C$118.08 and a 200-day moving average of C$120.45. The company has a market cap of C$9.42 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 3.72 and a beta of 0.68.

Toromont Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be paid a $0.52 dividend. 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. This represents a $2.08 annualized dividend and a yield of 1.80%. Toromont Industries’s payout ratio is 31.18%.

Wall Street Analyst Weigh In

TIH has been the subject of a number of research reports. Canaccord Genuity Group lifted their target price on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. CIBC lifted their price target on shares of Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Royal Bank of Canada raised their target price on shares of Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. BMO Capital Markets lifted their price target on Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday, February 12th. Finally, Scotiabank raised their price target on shares of Toromont Industries from C$132.00 to C$133.50 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Toromont Industries currently has a consensus 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.