Insider Selling: Toromont Industries Ltd. (TSE:TIH) Senior Officer Sells C$575,000.00 in Stock

Toromont Industries Ltd. (TSE:TIH) Senior Officer Jennifer Cochrane sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of C$115.00, for a total transaction 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 stock was sold at an average price of C$121.25, for a total transaction of C$606,250.00.

Toromont Industries Stock Performance

Shares of TIH opened at C$116.00 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The firm has a market cap of C$9.46 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company’s 50 day simple moving average is C$118.30 and its 200-day simple moving average is C$120.11. Toromont Industries Ltd. has a 12-month low of C$109.83 and a 12-month high of C$135.53.

Toromont Industries Increases Dividend

The company also recently disclosed 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. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a yield of 1.79%. The ex-dividend date is Friday, March 7th. Toromont Industries’s payout ratio is currently 31.18%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Canaccord Genuity Group raised their price objective on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. National Bankshares raised their price objective on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets raised their price objective on shares of Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th. Finally, CIBC raised their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.