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

Element Fleet Management Corp. (TSE:EFN) announced a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Shareholders of record on Tuesday, April 15th will be given 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 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 Price Performance

Shares of EFN stock traded down C$0.55 during trading hours on Friday, hitting C$28.70. 597,818 shares of the company’s stock were exchanged, compared to its average volume of 573,229. The company has a current ratio of 7.04, a quick ratio of 5.70 and a debt-to-equity ratio of 303.64. Element Fleet Management has a 12-month low of C$21.20 and a 12-month high of C$30.49. The business’s 50 day simple moving average is C$28.54 and its 200-day simple moving average is C$28.78. The company has a market capitalization of C$8.23 billion, a PE ratio of 23.82, a PEG ratio of 2.97 and a beta of 0.91.

Insider Activity at Element Fleet Management

In other news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the business’s stock in a transaction on 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 bought 2,107 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of C$27.06 per share, with a total value of C$57,010.36. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. CIBC lifted 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 increased 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, 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 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Element Fleet Management presently has an average rating of “Buy” and an average target price of C$34.00.

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.