Element Fleet Management (TSE:EFN) Sets New 1-Year High - Here's Why

Element Fleet Management Corp. (TSE:EFN - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as C$36.09 and last traded at C$36.00, with a volume of 68273 shares traded. The stock had previously closed at C$35.70.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EFN shares. Keefe, Bruyette & Woods raised shares of Element Fleet Management to a "hold" rating in a research report on Sunday, April 20th. BMO Capital Markets increased their price objective on shares of Element Fleet Management from C$33.00 to C$35.00 in a research report on Friday, May 2nd. Jefferies Financial Group reduced their price objective on shares of Element Fleet Management from C$31.00 to C$30.00 in a research report on Monday, April 21st. Scotiabank increased their price objective on shares of Element Fleet Management from C$33.00 to C$40.00 in a research report on Wednesday. Finally, Royal Bank Of Canada raised shares of Element Fleet Management to a "moderate buy" rating and set a C$43.00 price objective on the stock in a research report on Wednesday, June 18th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Element Fleet Management currently has a consensus rating of "Moderate Buy" and a consensus price target of C$36.38.

Element Fleet Management Stock Down 0.3%

The company's 50 day moving average price is C$33.57 and its 200 day moving average price is C$30.61. The company has a quick ratio of 5.70, a current ratio of 7.04 and a debt-to-equity ratio of 303.64. The firm has a market capitalization of C$10.20 billion, a price-to-earnings ratio of 29.54, a P/E/G ratio of 2.97 and a beta of 0.91.

Element Fleet Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.46%. Element Fleet Management's payout ratio is currently 39.84%.

Insider Buying and Selling at Element Fleet Management

In other news, Senior Officer Carlos David Madrigal Gonzalez sold 10,230 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of C$30.77, for a total value of C$314,777.10. Also, Director Luis Manuel Enrique Tellez Kuenzler acquired 4,300 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average cost of C$31.58 per share, with a total value of C$135,781.10. 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.