Toromont Industries (TSE:TIH – Free Report) had its price objective cut by Royal Bank of Canada from C$142.00 to C$138.00 in a report released on Wednesday morning,BayStreet.CA reports.
Other equities analysts have also issued reports about the stock. National Bank Financial lowered shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. BMO Capital Markets lifted their price objective on shares of Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. Scotiabank lowered their target price on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday. National Bankshares cut their price target on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Finally, TD Securities upped their price target on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$135.00.
Toromont Industries Stock Down 0.5 %
Toromont Industries Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, December 6th. Toromont Industries’s dividend payout ratio is presently 30.62%.
Insider Buying and Selling
In related news, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total value of C$169,750.00. Also, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. In the last three months, insiders have sold 4,500 shares of company stock worth $554,864. Insiders own 0.27% of the company’s stock.
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.
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