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 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 stock was sold at an average price of C$121.25, for a total transaction of C$606,250.00.

Toromont Industries Stock Performance

TSE:TIH traded down C$0.52 during trading hours on Tuesday, hitting C$115.01. 99,349 shares of the company traded hands, compared to its average volume of 152,480. The firm has a 50-day moving average of C$118.16 and a 200 day moving average of C$120.19. The stock has a market capitalization of C$9.38 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. Toromont Industries Ltd. has a twelve month low of C$109.83 and a twelve month high of C$135.53.

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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.81%. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 7th. Toromont Industries’s payout ratio is currently 31.18%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TIH. Raymond James increased their price objective on 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 research note on Thursday, February 13th. National Bank Financial upgraded shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th. Scotiabank lifted their target price on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, National Bankshares upped their price target on shares of Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Three research 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 MarketBeat.com, the stock has an average 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.