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 on Monday, March 17th. The stock was sold at an average price of C$115.00, for a total value 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 transaction of C$606,250.00.

Toromont Industries Stock Down 0.5 %

Shares of Toromont Industries stock traded down C$0.52 on Tuesday, hitting C$115.01. 99,349 shares of the company traded hands, compared to its average volume of 152,480. Toromont Industries Ltd. has a 12-month low of C$109.83 and a 12-month high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company has a market cap of C$9.38 billion, a PE ratio of 18.68, a PEG ratio of 3.72 and a beta of 0.68. The company has a 50-day moving average price of C$118.16 and a 200 day moving average price of C$120.19.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date is Friday, March 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.81%. This is an increase from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s payout ratio is 31.18%.

Wall Street Analysts Forecast Growth

TIH has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their price target on shares of Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada lifted 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 report on Thursday, February 13th. Raymond James increased their target price 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. National Bankshares lifted their price target on Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Scotiabank upped their price target on Toromont Industries from C$132.00 to C$133.50 and gave the company a “sector perform” rating in a research 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 given a strong buy rating to the company’s stock. According to MarketBeat, Toromont Industries presently has a consensus rating of “Moderate Buy” and a consensus target price 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.