David Allan Malinauskas Sells 972 Shares of Toromont Industries (TSE:TIH) Stock

Toromont Industries Ltd. (TSE:TIH) Director David Allan Malinauskas sold 972 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total transaction of C$195,955.20.

Toromont Industries Stock Up 0.5%

Toromont Industries stock opened at C$197.65 on Friday. The firm has a market capitalization of C$16.10 billion, a P/E ratio of 32.56, a P/E/G ratio of 3.72 and a beta of 0.89. The company has a current ratio of 2.93, a quick ratio of 1.38 and a debt-to-equity ratio of 25.87. Toromont Industries Ltd. has a twelve month low of C$107.32 and a twelve month high of C$215.58. The stock’s fifty day simple moving average is C$188.92 and its 200-day simple moving average is C$168.79.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 15.97% and a net margin of 9.54%.The firm had revenue of C$1.42 billion during the quarter. As a group, equities analysts expect that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.24 dividend on an annualized basis and a yield of 1.1%. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. Toromont Industries’s dividend payout ratio is 34.27%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TIH shares. Canadian Imperial Bank of Commerce boosted their price objective on Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. Scotiabank raised their target price on shares of Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th. TD Securities lifted their price target on shares of Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada boosted their price target on shares of Toromont Industries from C$180.00 to C$207.00 in a report on Thursday, February 12th. Finally, BMO Capital Markets increased their price objective on shares of Toromont Industries from C$196.00 to C$210.00 in a research report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Toromont Industries has a consensus rating of “Moderate Buy” and an average target price of C$198.63.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.