Insider Buying: Element Fleet Management (TSE:EFN) Insider Purchases C$1,000,252.00 in Stock

Element Fleet Management Corp. (TSE:EFN) insider Laura Lee Dottori-Attanasio acquired 35,800 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average price of C$27.94 per share, with a total value of C$1,000,252.00. Following the completion of the transaction, the insider directly owned 397,600 shares of the company’s stock, valued at approximately C$11,108,944. This represents a 9.89% increase in their ownership of the stock.

Element Fleet Management Trading Down 0.6%

Shares of TSE:EFN opened at C$28.16 on Friday. Element Fleet Management Corp. has a 1 year low of C$25.32 and a 1 year high of C$38.26. The firm has a market capitalization of C$11.15 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 2.97 and a beta of 0.66. The company has a debt-to-equity ratio of 358.10, a current ratio of -1,554.01 and a quick ratio of 5.70. The business’s 50 day moving average price is C$29.09 and its 200-day moving average price is C$32.26.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 EPS for the quarter. The company had revenue of C$879.58 million during the quarter. Element Fleet Management had a net margin of 12.38% and a return on equity of 10.62%. On average, equities research analysts forecast that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current fiscal year.

Element Fleet Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. Element Fleet Management’s payout ratio is currently 52.84%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EFN shares. Royal Bank Of Canada decreased their price target on shares of Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. TD Securities reduced their target price on Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Jefferies Financial Group upgraded Element Fleet Management from a “hold” rating to a “buy” rating in a research report on Monday, February 23rd. Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from C$42.50 to C$42.00 in a research note on Thursday, May 7th. Finally, TD decreased their price objective on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Element Fleet Management currently has a consensus rating of “Buy” and an average target price of C$41.88.

Element Fleet Management Company Profile

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.