Insider Selling: Element Fleet Management (TSE:EFN) Insider Sells 67,102 Shares of Stock

Element Fleet Management Corp. (TSE:EFN) insider James Halliday sold 67,102 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of C$28.07, for a total transaction of C$1,883,553.14. Following the completion of the sale, the insider directly owned 54,301 shares of the company’s stock, valued at C$1,524,229.07. The trade was a 55.27% decrease in their ownership of the stock.

James Halliday also recently made the following trade(s):

• On Tuesday, June 16th, James Halliday bought 620 shares of Element Fleet Management stock. The stock was acquired at an average cost of C$28.00 per share, with a total value of C$17,360.00.

Element Fleet Management Stock Performance

Shares of TSE:EFN traded up C$0.87 on Wednesday, reaching C$28.74. The company’s stock had a trading volume of 1,236,618 shares, compared to its average volume of 1,005,004. The stock’s 50-day moving average is C$29.27 and its two-hundred day moving average is C$32.42. Element Fleet Management Corp. has a 52-week low of C$25.32 and a 52-week high of C$38.26. The company has a debt-to-equity ratio of 358.10, a current ratio of -1,554.01 and a quick ratio of 5.70. The stock has a market capitalization of C$11.38 billion, a P/E ratio of 38.84, a PEG ratio of 2.97 and a beta of 0.66.

Element Fleet Management (TSE:EFN) last announced its earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 EPS 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, sell-side analysts forecast that Element Fleet Management Corp. will post 1.6884016 EPS for the current year.

Element Fleet Management Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. Element Fleet Management’s payout ratio is presently 52.84%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. 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 for the company in a research report on Wednesday, February 25th. Royal Bank Of Canada reduced their price objective on shares of Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Jefferies Financial Group upgraded shares of Element Fleet Management from a “hold” rating to a “buy” rating in a research report on Monday, February 23rd. TD reduced their price objective on shares of Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Raymond James Financial downgraded shares of Element Fleet Management from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from C$42.50 to C$42.00 in a research report on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$41.88.

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.