Element Fleet Management (TSE:EFN) Hits New 1-Year High – Here’s Why

Element Fleet Management Corp. (TSE:EFN)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$32.75 and last traded at C$32.68, with a volume of 61779 shares traded. The stock had previously closed at C$32.58.

Analyst Ratings Changes

Several brokerages have commented on EFN. Keefe, Bruyette & Woods upgraded shares of Element Fleet Management to a “hold” rating in a research note on Sunday, April 20th. Jefferies Financial Group cut their target price on shares of Element Fleet Management from C$31.00 to C$30.00 in a research note on Monday, April 21st. Raymond James upped 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. CIBC boosted their price objective on Element Fleet Management from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets lifted their price target on Element Fleet Management from C$33.00 to C$35.00 in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$34.38.

Element Fleet Management Trading Up 0.8%

The firm has a market cap of C$9.41 billion, a price-to-earnings ratio of 27.25, a P/E/G 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. The company’s 50 day simple moving average is C$29.68 and its 200 day simple moving average is C$29.14.

Element Fleet Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were given a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Element Fleet Management’s previous quarterly dividend of $0.12. Element Fleet Management’s dividend payout ratio (DPR) is currently 39.84%.

Insider Activity

In other news, Director Luis Manuel Enrique Tellez Kuenzler purchased 4,300 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were bought at an average price of C$31.58 per share, with a total value of C$135,781.10. Also, Senior Officer Carlos David Madrigal Gonzalez purchased 2,107 shares of Element Fleet Management stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of C$27.06 per share, with a total value of C$57,010.36. In the last quarter, insiders purchased 24,407 shares of company stock worth $692,783. 0.26% of the stock is currently owned by company 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.