Element Fleet Management Corp. (TSE:EFN) Raises Dividend to $0.13 Per Share

Element Fleet Management Corp. (TSE:EFN) declared a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Shareholders 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 is Monday, March 31st. This is a 8.3% increase from Element Fleet Management’s previous quarterly dividend of $0.12.

Element Fleet Management Trading Down 1.9 %

Shares of EFN stock traded down C$0.55 on Friday, reaching C$28.70. 597,818 shares of the stock were exchanged, compared to its average volume of 573,229. Element Fleet Management has a 1-year low of C$21.20 and a 1-year high of C$30.49. The stock has a market cap of C$8.23 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The company has a quick ratio of 5.70, a current ratio of 7.04 and a debt-to-equity ratio of 303.64. The firm has a 50 day moving average of C$28.54 and a two-hundred day moving average of C$28.78.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of C$27.78 per share, with a total value 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 acquired at an average price of C$27.06 per share, for a total transaction of C$57,010.36. 0.26% of the stock is currently owned by corporate insiders.

About Element Fleet Management

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.