Insider Buying: Element Fleet Management (TSE:EFN) Director Buys C$56,000.00 in Stock

Element Fleet Management Corp. (TSE:EFN) Director George Keith Graham bought 2,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were acquired at an average price of C$28.00 per share, with a total value of C$56,000.00. Following the completion of the acquisition, the director directly owned 27,000 shares in the company, valued at C$756,000. This represents a 8.00% increase in their position.

Element Fleet Management Stock Performance

Shares of EFN opened at C$28.16 on Friday. Element Fleet Management Corp. has a 12-month low of C$25.32 and a 12-month high of C$38.26. The stock has a market cap of C$11.15 billion, a P/E ratio of 38.05, a PEG ratio of 2.97 and a beta of 0.66. The company has a current ratio of -1,554.01, a quick ratio of 5.70 and a debt-to-equity ratio of 358.10. The company has a 50-day moving average of C$29.09 and a two-hundred day moving average of C$32.26.

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

Element Fleet Management Announces Dividend

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

Wall Street Analyst Weigh In

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

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. 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.