Element Fleet Management Corp. (TSE:EFN) Declares Dividend Increase – $0.13 Per Share

Element Fleet Management Corp. (TSE:EFN) announced a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Stockholders of record on Tuesday, April 15th will be paid a dividend of 0.13 per share by the financial services provider on Tuesday, April 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, March 31st. This is a 8.3% increase from Element Fleet Management’s previous quarterly dividend of $0.12.

Element Fleet Management Stock Performance

TSE:EFN traded down C$0.55 during midday trading on Friday, reaching C$28.70. The stock had a trading volume of 597,818 shares, compared to its average volume of 573,229. The stock has a market capitalization of C$8.23 billion, a P/E ratio of 23.82, a PEG ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 303.64, a current ratio of 7.04 and a quick ratio of 5.70. Element Fleet Management has a 1-year low of C$21.20 and a 1-year high of C$30.49. The firm’s fifty day simple moving average is C$28.54 and its 200-day simple moving average is C$28.78.

Analyst Ratings Changes

EFN has been the topic of several research analyst reports. National Bankshares lowered their price objective on shares of Element Fleet Management from C$41.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Raymond James raised their price target on shares of Element Fleet Management from C$34.00 to C$36.00 in a research report on Friday, February 28th. Finally, CIBC upped their price objective on shares of Element Fleet Management from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Element Fleet Management presently has a consensus rating of “Buy” and an average target price of C$34.00.

Insider Activity

In related news, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of C$27.78 per share, for a total transaction of C$499,991.40. Also, Senior Officer Carlos David Madrigal Gonzalez acquired 2,107 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average price of C$27.06 per share, with a total value of C$57,010.36. 0.26% of the stock is owned by company insiders.

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.