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

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

Toromont Industries Stock Down 0.8 %

Toromont Industries stock opened at C$116.95 on Thursday. The stock has a market cap of C$9.54 billion, a P/E ratio of 18.99, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.37 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. The company’s 50-day moving average price is C$117.85 and its two-hundred day moving average price is C$120.67.

Toromont Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 is Friday, March 7th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s dividend payout ratio is presently 31.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group boosted their price target 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. Royal Bank of Canada boosted their price target on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Scotiabank boosted their price target on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Raymond James boosted their price target on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Finally, National Bankshares upped their target price 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 investment 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 stock currently 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.