Element Fleet Management (TSE:EFN) Insider Sells 90,855 Shares of Stock

Element Fleet Management Corp. (TSE:EFN) insider Jacob Eisenberg sold 90,855 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of C$26.26, for a total value of C$2,385,852.30. Following the sale, the insider directly owned 64,897 shares of the company’s stock, valued at approximately C$1,704,195.22. This represents a 58.33% decrease in their ownership of the stock.

Element Fleet Management Price Performance

Shares of TSE EFN traded down C$0.19 during mid-day trading on Wednesday, reaching C$26.00. The company had a trading volume of 699,604 shares, compared to its average volume of 1,008,404. The company has a 50-day moving average price of C$29.34 and a two-hundred day moving average price of C$29.96. The stock has a market cap of C$10.17 billion, a PE ratio of 35.14, a P/E/G ratio of 2.97 and a beta of 0.61. The company has a current ratio of -1,179.03, a quick ratio of 5.70 and a debt-to-equity ratio of 357.23. Element Fleet Management Corp. has a 1-year low of C$25.32 and a 1-year high of C$38.26.

Element Fleet Management (TSE:EFN) last announced its earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 EPS for the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%.The business had revenue of C$451.94 million during the quarter. On average, equities analysts anticipate that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current year.

Element Fleet Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. Element Fleet Management’s dividend payout ratio is currently 54.26%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EFN. Raymond James Financial lowered shares of Element Fleet Management from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from C$42.50 to C$42.00 in a report on Thursday, May 7th. TD lowered their price objective on shares of Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Royal Bank Of Canada cut their target price 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. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$42.14.

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. 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.