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 the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of C$116.27, for a total transaction of C$23,254.00. Following the transaction, the director now owns 979 shares in the company, valued at approximately C$113,828.33. The trade was a 16.96 % decrease in their ownership of the stock.

Toromont Industries Trading Up 2.2 %

TSE TIH opened at C$113.92 on Friday. Toromont Industries Ltd. has a one year low of C$109.83 and a one year high of C$135.53. 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 firm has a market cap of C$9.29 billion, a P/E ratio of 18.50, a P/E/G ratio of 3.72 and a beta of 0.68. The stock’s 50-day moving average is C$118.06 and its 200-day moving average is C$120.31.

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 of this dividend is Friday, March 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.83%. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s payout ratio is presently 31.18%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TIH. 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 note on Thursday, February 13th. Scotiabank upped their target price on shares of 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. Raymond James raised their price target on 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. National Bankshares upped their price objective 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, Canaccord Genuity Group raised their target price on Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.