Insider Selling: Element Fleet Management Corp. (TSE:EFN) Director Sells C$617,500.00 in Stock

Element Fleet Management Corp. (TSE:EFN) Director George Keith Graham sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$24.70, for a total transaction of C$617,500.00.

Element Fleet Management Trading Down 1.0 %

Shares of TSE EFN opened at C$24.31 on Friday. The company has a debt-to-equity ratio of 315.13, a quick ratio of 5.70 and a current ratio of 8.32. Element Fleet Management Corp. has a 52-week low of C$18.50 and a 52-week high of C$24.99. The firm has a 50 day moving average price of C$22.32 and a two-hundred day moving average price of C$22.09. The stock has a market cap of C$9.45 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 2.97 and a beta of 0.83.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported C$0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.32 by C$0.01. Element Fleet Management had a net margin of 23.30% and a return on equity of 12.40%. The firm had revenue of C$333.36 million during the quarter, compared to analysts’ expectations of C$334.92 million. As a group, equities analysts forecast that Element Fleet Management Corp. will post 1.5226286 EPS for the current year.

Element Fleet Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, June 28th. Element Fleet Management’s dividend payout ratio (DPR) is presently 39.67%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Veritas Investment Research reissued a “reduce” rating on shares of Element Fleet Management in a research note on Thursday, February 29th. TD Securities increased their price objective on shares of Element Fleet Management from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. National Bankshares increased their price objective on shares of Element Fleet Management from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Scotiabank increased their price objective on shares of Element Fleet Management from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Finally, CIBC increased their price objective on shares of Element Fleet Management from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Element Fleet Management has an average rating of “Moderate Buy” and an average target price of C$28.50.

About Element Fleet Management

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.