Key Points
- Insider sale: Toromont insider Jennifer Cochrane sold 5,000 shares on Dec. 10 at C$165 each for C$825,000, reducing her stake by 29.39% to 12,012 shares (≈C$1.98M).
- Dividend: The company declared a quarterly dividend of C$0.52 per share (annualized C$2.08, yield 1.3%), payable Jan. 5 with an ex-dividend date of Dec. 5.
- Analyst sentiment: Multiple brokerages raised price targets in early November and the consensus rating is a "Moderate Buy" with a target of C$172.88.
Toromont Industries Ltd. (TSE:TIH - Get Free Report) insider Jennifer Cochrane sold 5,000 shares of the firm's stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the completion of the transaction, the insider directly owned 12,012 shares in the company, valued at approximately C$1,981,980. This represents a 29.39% decrease in their position.
Toromont Industries Stock Down 0.6%
Shares of Toromont Industries stock opened at C$164.42 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. Toromont Industries Ltd. has a twelve month low of C$107.32 and a twelve month high of C$168.56. The stock has a market cap of C$13.38 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 3.72 and a beta of 0.62. The company has a fifty day moving average price of C$161.47 and a 200 day moving average price of C$144.98.
Toromont Industries (TSE:TIH - Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported C$1.72 EPS for the quarter. The firm had revenue of C$1.31 billion for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%. Equities research analysts forecast that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current fiscal year.
Toromont Industries Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, January 5th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, December 5th. Toromont Industries's payout ratio is presently 33.72%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on TIH. Royal Bank Of Canada increased their price target on Toromont Industries from C$151.00 to C$180.00 and gave the company an "outperform" rating in a report on Monday, November 3rd. National Bankshares raised their price target on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an "outperform" rating in a research report on Monday, November 3rd. Scotiabank lifted their price target on shares of Toromont Industries from C$171.00 to C$175.00 and gave the stock a "sector perform" rating in a research note on Monday, November 3rd. Canaccord Genuity Group upped their price target on shares of Toromont Industries from C$160.00 to C$172.00 and gave the company a "buy" rating in a report on Monday, November 3rd. Finally, CIBC raised their price objective on shares of Toromont Industries from C$168.00 to C$172.00 and gave the stock a "neutral" rating in a report on Monday, November 3rd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$172.88.
View Our Latest Report on TIH
About Toromont Industries
(
Get Free Report)
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.
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