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. Stockholders 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 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend 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 Element Fleet Management stock traded down C$0.55 on Friday, reaching 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 market capitalization 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. Element Fleet Management has a 52 week low of C$21.20 and a 52 week high of C$30.49. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04. The firm’s 50-day moving average is C$28.54 and its two-hundred day moving average is C$28.78.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Element Fleet Management

In other Element Fleet Management news, Senior Officer Carlos David Madrigal Gonzalez bought 2,107 shares of the stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of C$27.06 per share, for a total transaction of C$57,010.36. Also, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of Element Fleet Management stock in a transaction that occurred on 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.

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.