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

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

Toromont Industries Trading Down 2.8 %

TSE:TIH opened at C$114.22 on Wednesday. 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 business’s 50-day simple moving average is C$118.04 and its 200-day simple moving average is C$120.48. Toromont Industries Ltd. has a fifty-two week low of C$109.83 and a fifty-two week high of C$135.53. The stock has a market capitalization of C$9.32 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Increases Dividend

The business also recently declared 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 1.82%. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s payout ratio is presently 31.18%.

Analysts Set New Price Targets

A number of brokerages recently commented on TIH. National Bankshares lifted their price objective on Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. CIBC boosted their target price on Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Raymond James upped their price target on Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. BMO Capital Markets lifted their price objective on shares of Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada upped 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. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, 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.