Element Fleet Management Corp. (TSE:EFN) Increases Dividend to $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 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

TSE EFN traded down C$0.55 on Friday, hitting C$28.70. 597,818 shares of the company 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 firm has a 50 day moving average of C$28.54 and a two-hundred day moving average of C$28.78. The company has a current ratio of 7.04, a quick ratio of 5.70 and a debt-to-equity ratio of 303.64. The company has a market cap of C$8.23 billion, a P/E ratio of 23.82, a P/E/G ratio of 2.97 and a beta of 0.91.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. CIBC increased their price target on shares of Element Fleet Management from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. National Bankshares decreased their price objective on Element Fleet Management from C$41.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, Raymond James lifted their target price on Element Fleet Management from C$34.00 to C$36.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Element Fleet Management currently has an average rating of “Buy” and an average target price of C$34.00.

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.